Reference no: EM132472733
maben company was started on january 1, 2018 and experienced the following events during its first year of operation:
Point 1. Acquired $30,000 cash from the issue of common stock.
Point 2. borrowed $42,000 cash from national bank
Point 3. earned cash revenues of$58,000 for performing services
Point 4. paid a $2,000 cash ividend to the stakeholders.
Point 5. paid a $2,000 cash dividend to the stakeholders.
Point 6. Acquired an additional $30,000 cash from the issue of common stock.
Point 7. paid $11,000 cash to reduce the principal balance of the ank note.
Point 8. paid $51,000 cash to purchase land.
Question 1: determined that the market value of the land is $71,000
Question 2: determine the amount of total assets that maben would report on the December 31, 2018 balance sheet
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