Reference no: EM132472736

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: Identify the asset source transactions and related amounts for 2018