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Required information Problem 2-20A (Algo) Showing how events affect the horizontal...

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Accounting

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Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $33,000 cash from the issue of common stock. 2. Borrowed $37,000 cash from National Bank. 3. Earned cash revenues of $51,000 for performing services. 4. Paid cash expenses of $46,500. 5. Paid a $1,300 cash dividend to the stockholders. 6. Acquired an additional $23,000 cash from the issue of common stock. 7. Paid $9.000 cash to reduce the principal balance of the bank note. 8. Paid $56,000 cash to purchase land. 9. Determined that the market value of the land is $78,000. Problem 2-20A (Algo) Part c c. Identify the asset source transactions and related amounts for Year 1

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