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Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: Acquired $30,000 cash from the issue

Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation:

  1. Acquired $30,000 cash from the issue of common stock.

  2. Borrowed $42,000 cash from National Bank.

  3. Earned cash revenues of $58,000 for performing services.

  4. Paid cash expenses of $50,000.

  5. Paid a $2,000 cash dividend to the stockholders.

  6. Acquired an additional $30,000 cash from the issue of common stock.

  7. Paid $11,000 cash to reduce the principal balance of the bank note.

  8. Paid $51,000 cash to purchase land.

  9. Determined that the market value of the land is $71,000.

C. Identify the asset source transactions and related amounts for 2018. (Do not club any events.)

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