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Nevada Company experienced the following events during its first year of operations: 1. Acquired an additional $1,000 cash from the issue of common stock.
Nevada Company experienced the following events during its first year of operations: 1. Acquired an additional $1,000 cash from the issue of common stock. 2. Paid $2,400 cash for utilities expense. 3. Paid a $1,500 cash dividend to the stockholders. 4. Provided additional services for $6,000 cash. 5. Purchased additional land for $2,500 cash. 6. The market value of the land was determined to be $24,000 at the end of the accounting period. 7. Acquired $16,000 cash from the issue of common stock. 8. Paid $3,500 cash for salary expense. 9. Borrowed $10,000 cash from New South Bank. 10. Paid $6,000 cash to purchase land. 11. Provided boarding services for $10,500 cash. Required: Classify each event as an asset source, use, or exchange transaction or as not applicable (NA). Event 1. Classification 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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