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Saturday, 9 September 2017

Nevada Company experienced the following events during its first year of operations:

Nevada Company experienced the following events during its first year of operations:
 
1.  Acquired an additional $1,000 cash from the issue of common stock.
2.  Paid $2,400 cash for utilities expense.
3.  Paid a $1,500 cash dividend to the stockholders.
4.  Provided additional services for $6,000 cash.
5.  Purchased additional land for $2,500 cash.
6.  The market value of the land was determined to be $24,000 at the end of the accounting
period.
7.  Acquired $16,000 cash from the issue of common stock.
8.  Paid $3,500 cash for salary expense.
9.  Borrowed $10,000 cash from New South Bank.
10.  Paid $6,000 cash to purchase land.
11.  Provided boarding services for $10,500 cash.

Required
Classify each event as an asset source, use, or exchange transaction or as not applicable (NA). save image

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