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Mark's Consulting experienced the following transactions for Year 1, its first year of operations, and Year 2. Assume that all transactions involve the receipt or payment of cash. Transactions for Year 1 1. Acquired $65,000 by issuing common stock. 2. Received $115,000 cash for providing services to customers. 3. Borrowed $18,000 cash from creditors. 4. Paid expenses amounting to $57,000. 5. Purchased land for $40,000 cash. Transactions for Year 2 Beginning account balances for Year 2 are: Cash Land Notes payable Common stock Retained earnings $101,000 40,000 18,000 65,000 58,000 1. Acquired an additional $23,000 from the issue of common stock. 2. Received $133,000 for providing services. 3. Paid $13,000 to creditors to reduce loan. 4. Paid expenses amounting to $72,000. 5. Paid a $13,500 dividend to the stockholders. 6. Determined that the market value of the land is $50,000.

Mark's Consulting experienced the following transactions for Year 1, its first year of operations, and Year 2 . Assume that all transactions involve the receipt or payment of cash Transictions for Year 1 1. Acquired $65,000 by issuing common stock. 2. Received $115,000 cash for providing services to customers. 3. Borrowed $18,000 cash from creditors. 4. Paid expenses amounting to $57000. 5. Purchased land for $40,000 cast Transactions for Year 2 Beginning account balances for Year 2 ate 1. Acquired an additional $,3,000 from the issue of common stock 2. Received $133,000 for providing services. 3. Pald $13,000 to creditors to reduce loan. 4. Paid expenses amounting to $72,000. 5. Pald o $13.500 dividend to the stockholders. 6. Determined that the market value of the land is $50000 Mark's Consulting experienced the following transactions for Year 1, its first year of operations, and Year 2 . Assume that all transactions involve the receipt or payment of cash Transictions for Year 1 1. Acquired $65,000 by issuing common stock. 2. Received $115,000 cash for providing services to customers. 3. Borrowed $18,000 cash from creditors. 4. Paid expenses amounting to $57000. 5. Purchased land for $40,000 cast Transactions for Year 2 Beginning account balances for Year 2 ate 1. Acquired an additional $,3,000 from the issue of common stock 2. Received $133,000 for providing services. 3. Pald $13,000 to creditors to reduce loan. 4. Paid expenses amounting to $72,000. 5. Pald o $13.500 dividend to the stockholders. 6. Determined that the market value of the land is $50000

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