Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events:

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Better Corp Bc Began Operations On January 1 Year 1 During Year 1 Bc Experienced The Following Accounting Events 1 (47.71 KiB) Viewed 71 times

Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acquired $7,000 cash from the issue of common stock. 2. Borrowed $12,000 cash from the State Bank. 3. Collected $47,000 cash as a result of providing services to customers. 4. Paid $30,000 for operating expenses. 5. Paid an $8,000 cash dividend to the stockholders. 6. Paid $20,000 cash to purchase land. Required a. Record the events in an accounting equation like the one shown next. 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. (Enter any decreases to account balances with a minus sign. Not all cells require input.). BETTER CORP. Accounting Equation for Year 1 Liabilities Assets Stockholders' Equity Retained Earnings Event Cash Notes Payable Common Stock 0- 0 Beg Bal 1 Issued stock 2 Borrowed Loan 3. Provided Service 4. Paid operating expenses 5 Pald dividend 6 Land purchase Totals 0. • 4 + Land . + + • 0. + * Account Titles for Retained Earnings