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Required Information

Part $1$ of $3$

$[$The following Information applles to the questions displayed below.$]$

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

$1\mathrm{.}81$

points

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

Borrowed $$40,000$ cash from National Bank.

Earned cash revenues of $$48,000$ for performing services.

Pald cash expenses of $$25,000.$

eBook

Paid a $$1,000$ cash dividend to the stockholders.

Acquired an additional $$20,000$ cash from the issue of common stock.

Paid $$10,000$ cash to reduce the principal balance of the bank note.

Pald $$53,000$ cash to purchase land.

Print

Determined that the market value of the land is $$75,000.$

References

Required:

a$.$ Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities $($OA$),$ Investing activities $($IA$),$ or financing activities $($FA$).$ If the element is not affected by the event, leave the cell blank. The first event is shown as an example.

Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed.

$\backslash$table$[[$MABEN COMPANY$],[$Horizontal Financial Statements Model$],[\backslash$table$[[$Event$],[$Number$]],$Balance Sheet,Income Statement,$\{$

$\backslash$table$[[$Statement of Cash$],[$Flows$]]\}],[$Assets$,\{$

$\backslash$table$[[$fd$4$ed$698$d$-3235-409$b$-$bd$10-653157280$d$28\}$

$\backslash$table$[[($ Notes $)],[($ Payable $)]]]]\},$Stockholders' Equity,Revenue,$-,$Expenses,$\{$

$\backslash$table$[[$Net$],[$Income$]]\}],[$Cash$,+,$Land,$+,\backslash$table$[[$Common$],[$Stock$]],,\backslash$table$[[$Retained$],[$Earnings$]],,],[1.,30,000,+,,=,,+,30,000,+,,,-,,=,,30,000,$FA$],[2.,40,000,+,,=,40,000,+,,+,,?,-,,=,,,$FA$],[3.,48,000,+,,=,,+,,+,48,000,,-,,=,,,$OA$],[4.,25,000,+,,=,,+,,+,,,-,,=,,,$OA$],[5.,1,000,+,,=,,+,,+,,,-,,=,,,$FA$],[6.,20,000,+,,=,,+,,+,,,-,,=,,,$FA$],[7.,10,000,+,,=,,+,,+,,,-,,=,,,$FA$],[8.,53,000,+,53,000,=,,+,,+,,,-,,=,,,$IA$],[9.,,+,,=,,+,,+,,,-,,=,,,],[$Total$,227,000,+,53,000,=,40,000,+,30,000,+,48,000,0,-,0,=,0,30,000,$N$^(*)],[$lette$,$the last,li$,$the,,esign,,e net chang,,sh$.,,,,,,,]]$