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Accounting Events Assignment

Author:
February 19th, 2020

Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation Assets Cash + Land 600 + 2,200 Liabilities Notes Payable + + Stockholders' Equity Common Stock + Retained Earnings 1,400 + 400 1,800 During Year 2. the company experienced the following accounting events.

• Paid off $500 of its note payable

• Earned $700 of cash revenue.

• Paid $400 of cash expenses.

• Paid a $100 cash dividend. Based on this information alone, what percent of the company's assets at the end of Year 2 were provided by earnings? Some other percentage. .

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