Question
Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide
Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells require input.) Event Accounting Equation Accounting Equation for Year 2 Assets Cash Land Balance 1/1/Year 2 15,000+ 25.000 1 N Liabilities Notes Payable Common Stock Stockholders' Equity Retained Earnings 12.500+ 7,500+ 20,000 Accounts Titles for Retained Earnings 2 3 4 5 6 7 Totals # N + [4] 4 () Reg B and C >
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