evada Company experienced the following events during its first year of operations: Acquired an additional $1,000 cash from the issue of common stock. Paid $2,400 cash for utilities expense. Paid a $1,500 cash dividend to the stockholders. Provided additional services for $6,000 cash. Purchased additional land for $2,500 cash. The market value of the land was determined to be $24,000 at the end of the accounting period. Acquired $16,000 cash from the issue of common stock. Paid $3,500 cash for salary expense. A Borrowed $10,000 cash from New South Bank. . Paid $6,000 cash to purchase land. 1. Provided boarding services for $10,500 cash. Required Classify each event as an asset source, use, or exchange transaction or as not applicable (NA). Event Classification

evada Company experienced the following events during its first year of operations: Acquired an additional $1,000 cash from the issue of common stock. Paid $2,400 cash for utilities expense. Paid a $1,500 cash dividend to the stockholders. Provided additional services for $6,000 cash. Purchased additional land for $2,500 cash. The market value of the land was determined to be $24,000 at the end of the accounting period. Acquired $16,000 cash from the issue of common stock. Paid $3,500 cash for salary expense. A Borrowed $10,000 cash from New South Bank. . Paid $6,000 cash to purchase land. 1. Provided boarding services for $10,500 cash. Required Classify each event as an asset source, use, or exchange transaction or as not applicable (NA). Event Classification

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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