Dakota Company experienced the following events during Year 2. Acquired $30,000 cash from the issue of common stock. Paid $12,000 cash to purchase land. Borrowed $10,000 cash. Provided services for $20,000 cash. Paid $1,000 cash for utilities expense. Paid $15,000 cash for other operating expenses. Paid a $2,000 cash dividend to the stockholders. Determined that the market value of the land purchased in Event 2 is now $12,700.
Required:
a. The January 1, 2018, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. 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. The first event is shown as an example.
b-1 Prepare an income statement for the 2018 accounting period.
b-2 Prepare a statement of changes in equity for the 2018 accounting period.
b-3 Prepare a year-end balance sheet for the 2018 accounting period.
b-4 Prepare a statement of cash flows for the 2018 accounting period.
c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings?

Question Completion:

January 1 general ledger balances: Cash = $2,000, Land $12,000, Notes Payable $0, Common Stock $6,000, and Retained $8,000.

Answer:

Dakota Company

Event      Assets           = Liabilities   + Stockholders Equity    Account Titles

              Cash   Land   = Accts Payable Common  Retained    for Retained

                                                                  Stock      Earnings      Earnings

Balance 2,000 12,000 = 0                +   6,000          8,000

1.          30,000             =                    + 30,000

2.        -10,000 +10,000

3.         10,000              =  10,000

4.        20,000              =                                          20,000 Service Revenue

5.          -1,000              =                                           -1,000 Utilities Expense

6.       -15,000               =                                        -15,000 Operating Exp.

7.        -2,000               =                                         -2,000

8.                           700 =                          +700

Bal. $34,000 $22,700 = $10,000   + $36,700     $10,000

b-1. Income Statement for the year ended December 2018:

Service Revenue      $20,000

Operating expenses   15,000

Utilities expense           1,000

Total expenses        $16,000

Net Income               $4,000

b-2. Statement of changes in equity for the year ended December 31, 2018:

Common stock, January 1    $6,000

Additional common stock    30,000

Land Revaluation                       700

Common stock, Dec. 31     $36,700

Retained earnings,

January 1                   8,000

Net Income                4,000

Dividends                 -2,000

Retained earnings             $10,000

Total equity                       $46,700

b-3. Balance Sheet as of December 31, 2018:

Assets:

Cash                                      $34,000

Land                                        22,700

Total assets                         $56,700

Liabilities and Equity:

Liabilities                              $10,000

Common stock                     36,700

Retained earnings                10,000

Total liabilities and equity $56,700

c. Percentage of assets provided by retained earnings

= $10,000/$56,700 * 100 = 17.64%

Yes.  The cash in retained earnings = $34,000 * 17.64% = $5,998.

Explanation:

a) Data and Calculations:

Analysis of Transactions during Year 2:

Cash $30,000 Common Stock $30,000

Land $12,000 Cash $12,000

Cash $10,000 Loan $10,000

Cash $20,000 Service Revenue $20,000

Utilities Expense $1,000 Cash $1,000

Operating Expenses $15,000 Cash $15,000

Dividends $2,000 Cash $2,000

Land $700 Revaluation $700

GIVING BRAINLIEST
hi!.... so i have a question for all of you... how do you make money?

The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:

Hours
Job 301 Job 302 Job 303 Process Improvement
Tom Couro 10 15 13 2
David Clancy 12 12 14 2
Jose Cano 11 13 15 1

The direct labor rate earned per hour by the three employees is as follows:

Tom Couro $32
David Clancy 36
Jose Cano 28

The process improvement category includes training, quality improvement, and other indirect tasks.

a. Journalize the entry to record the factory labor costs for the week.
b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week?

What does zero economic profit mean in a perfectly competitive market in the long run?

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Prepare the entries on both companies' books assuming the exchange had no commercial substance.

Why do you think that most consumers focus on the monthly payment instead of the overall cost of the car?

Classify the following cash flows as either operating, investing, or financing activities assume indirect method.
1. Received cash from short-term debt issuance.
2. Paid cash dividends.
3. Received cash payments from customers.
4. Purchased inventories with cash.
5. Paid cash interest on outstanding notes.
6. Received cash dividends from investments.
7. Paid accounts payable with cash.
8. Sold stock investments for cash.
9. Received cash from sale of equipment.
10. Received cash from long-term debt issuance.

The Steamboat Company began the month with 2,000 units in work in process which were 25% complete with respect to conversion costs. During the month, 10,000 units were started into production and the ending work in process consisted of 1,000 units which were 40% complete with respect to conversion costs. What was the number of equivalent units of production for conversion costs

A demand for a product or resource because of its contribution to the final product is called

Sheridan Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2020. The lease is for an 8-year period and requires equal annual payments of $31,448 at the beginning of each year. The first payment is received on January 1, 2020. Sheridan had purchased the machine during 2016 for $116,000. Collectibility of lease payments by Sheridan is probable. Sheridan set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Sheridan at the termination of the lease.
1. Compute the amount of the lease receivable.
2. Prepare all necessary journal entries for Sheridan for 2020.
3. Suppose the collectibility of the lease payments was not probable for Sheridan. Prepare the necessary journal entry for the company in 2020.
4. Suppose at the end of the lease term, Sheridan receives the asset and determines that it actually has a fair value of $980 instead of the anticipated residual value of $0. Record the entry to recognize the receipt of the asset for Sheridan at the end of the lease term.

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B) Polycentric staffing model
C) Ethnocentric staffing model
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Month Number of instruments used Total autoclave cost
January 724 $7,468
February 624 6,574
March 824 7,114
April 1,024 9,080
May 924 7,776
June 1,124 8,600
July 1,324 10,012
August 1,224 9,816
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2) What is the fixed cost of the autoclave equipment?
3) What is the cost formula that Dr. Farish should use for estimating autoclave sterilization costs for next year's budget?
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Total cost $ _

discuss three types of elasticity of demand with various exa
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An organization expresses its reason for being, what it aspires to be, and the values it wants to emphasize in its mission, vision, and values statements, respectively. This activity is important because these three statements are the necessary foundation for a successful organizational planning process. Read the descriptions and select whether the description pertains to a mission, vision, or value statement.

a. Describes the image the organization wants to project
b. Inspires enthusiasm and encourages commitment
c. Illuminates the organization’s attitude toward its employees
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A $25,000 bank loan is to be repaid in equal yearly payments of $2745 over 15 yr at an effective annual interest rate of 7%. The borrower uses the loan money to earn an annual effective return of 10% in the stock market. All money earned is kept in the stock fund. What is most nearly the present-day value of the earnings over 15 yr as a result of this loan and investment venture

define the term feasibility study​

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A. Interest Expense 9,185 Cash 9.185
B. Interest Expense 9,900 120 Premium on Bonds Payable Cash 10,020
C. Interest Expense 9,185 835 Discount on Bonds Payable Cash 10,020
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Consider Abraham and Zach. They both will save $7,200 per year until they retire at age 65. Abraham and Zach, however, will start saving at different ages. Abraham will start saving when he is 25 years old. Zach will start saving when he is 45 years old. Assuming the interest rate each year is 7%, how much money will the first year of savings amount to when they retire

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if X and Y are complementary angles, SinX=15/17 and Cos X=8/17 find tan X
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A comparative balance sheet for Culver Corporation is presented as follows.
December 31
2020 2019
Assets
Cash 72740 22000
Accounts receivable 83220 67480
Inventory 181220 190480
Land 72220 111480
72,740 83,220 181,220 72,220 $ 22,000 67,480 190,480 111,480
Equipment 261,220 201,480
Accumulated Depreciation- (70,220) (43,480)
Equipment
Total $600,400 $549,440
Liabilities and Stockholders' Equity
Accounts payable 35,220 $48,480
Bonds payable 150,000 200,000
Common stock ($1 par) 214,000 164000
Retained earnings 201,180 136,960
Total Additional information:
1. Net income for 2020 was $127,440. No gains or losses were recorded in 2020.
2. Cash dividends of $63,220 were declared and paid.
3. Bonds payable amounting to $50,000 were retired through issuance of common stock.
Prepare a statement of cash flows for 2020 for Culver Corporation. (Show amounts that decrease cash flow wit sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Finley Corporation had income from continuing operations of $10,600,000 in 2014. During 2014, it disposed of its restaurant division at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2014. Finley had 10,000,000 shares of common stock outstanding during 2014. Prepare a partial income statement for Finley beginning with income from continuing operations.

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The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period:
Performed $87,000 of services for clients on account.
Performed $50,000 of services for cash.
Incurred $48,000 of other operating expenses on account.
Paid $20,000 cash to an employee for salary.
Collected $64,000 cash from accounts receivable.
Paid $17,000 cash on accounts payable.
Paid a $8,000 cash dividend to the stockholders.
Accrued salaries were $4,000 at the end of Year 1.
Required
a. Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The first event is shown as an example. (Enter any decreases to account balances and cash outflows with a minus sign.)
b. What is the amount of total assets at the end of Year 1?
c. What is the balance of accounts receivable at the end of Year 1?
d. What is the balance of accounts payable at the end of Year 1?
f. What is net income for Year 1?
g. What is the amount of net cash flow from operating activities for Year 1?

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Western Sound Studios records and masters audio tapes of popular artists in live concerts. The performers use the tapes to prepare ‘‘live’’ albums, CDs, and MP3s. The following account balances were available at the beginning of 2009:
Accounts Payable $ 11,900
Accounts Receivable 384,000
Cash 16,300
Common Stock 1,000
Insurance Payable 11200
Interest Payable 100,000
Notes Payable (Long-term) 4000
Rent Payable (Building) 10000
Retained Earnings, 12/31/201101,200
During 2009, the following transactions occurred (the events described below are aggregations of many individual events):
a. Taping services in the amount of $994,000 were billed.
b. The accounts receivable at the beginning of the year were collected.
c. In addition, cash for $983,000 of the services billed in transaction a was collected.
d. The rent payable for the building was paid. In addition, $48,000 of building rental costs was paid in cash. There was no rent payable or prepaid at year-end.
e. The equipment rent payable on January 1 was paid. In addition, $84,000 of equipment rental costs was paid in cash. There was no rent payable or prepaid at year-end.
f. Utilities expense of $56,000 was incurred and paid in 2009.
g. Salaries expense for the year was $702,000. All $702,000 was paid in 2009.
h. The interest payable at January 1 was paid. During the year, an additional $11,000 of interest was paid. At year-end no interest was payable.
i. Income taxes for 2009 in the amount of $19,700 were incurred and paid.

Juana takes home $5400 per month. What is the maximum amount he can
spend each month on loan and credit card payments without being in danger
of credit overload?
A. $1350
B. $540
C. $1080
O D. $1800
SUBMIT

Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2014, Thomas shipped and billed book titles totaling $660,000. Collections, net of return credits, during the year totaled $605,934. he company spent $255,453 acquiring the books that it shipped a. Using accrual accounting and the preceding values, show the firm's net profit for the past year b. Using cash accounting and the preceding values, show the firm's net cash flow for the past year c. Which of these statements is more useful to the financil manager? Why?

The following is a set of hypothetical production possibilities for a nation.

Combination Automobiles (thousands) Beef (thousands of tons)
A 0 10
B 2 9
C 4 7
D 6 4
E 8 0

a. Plot the production possibilities data. What is the opportunity cost of the first 2,000 automobiles produced? Between which points is the opportunity cost per automobile highest? Between which points is the opportunity cost per thousand tons of beef highest?
b. Does this production possibilities curve reflect the law of increasing opportunity costs? Explain.
c. What assumptions could be changed to shift the production possibilities curve?

Scenario:
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a. technology
b. substitutes
c. legal factors
d. economic factors
e. demographics The information that Paul has collected in his competitive analysis can be referred to as:______.
a. corporate espionage.
b. competitive intelligence.
c. domain selection.
d. strategic vision
e. mission statement