Packet 5 Homework 10 2 Exercise 1-6A (Algo) Effect of transactions on the accounting equation LO 1-4 At the beginning of Year 2. Better Corp's accounting equation showed the following accounts and balances Cash Balance Accounting Equation Accounting titles for Retained Earnings Stack Earnings Payable Help Save & Falt Submit Check Better Cop. completed the folowing transactions during Year 2 1. Purchased land for $8.000 cash 2. Acquired $31,000 cash from the issue of common stock 3. Received $70,000 cash for providing services to customers 4. Paid cash operating expenses of $41,400 5. Borrowed $16.000 cash bom the bank Paid a $8.000 cash dividend to the stockholders Determined that the market value of the land purchased in event is $41,000 Required Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earings column. Provide the appropriate titles for these accounts in the last column of the table. As of December 31, Year 2, determine the total amount of assets, abilities, and stockholders' equity and present this information in the form of an accounting equation Packet S Homewo 10 2 What is the amount of total assets totes, and stocks ety of Jury Year 2 2 3 31.00011 70000 . 7 1000 000 41.000+1 200+ 21800 < Prev 22 Nod MacBook Air