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Business, 03.09.2021 03:10 Shelbs01

Mark's Consulting experienced the following transactions for 2018, its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $60,000 by issuing common stock. 2. Received $110,000 cash for providing services to customers. 3. Borrowed $17,000 cash from creditors. 4. Paid expenses amounting to $58,000. 5. Purchased land for $30,000 cash. Transactions for 2019 Beginning account balances for 2019 are: Cash Land Notes payable Common stock Retained earnings 52,000 $99,000 30,000 17,000 60,000

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