Question

Dale’s Business Services experienced the following events during its first year of operations:

1. Acquired $20,000 cash from the issue of common stock.
2. Borrowed $12,000 cash from First Bank.
3. Paid $5,000 cash to purchase land.
4. Received $25,000 cash for providing boarding services.
5. Acquired an additional $5,000 cash from the issue of common stock.
6. Purchased additional land for $4,000 cash.
7. Paid $10,000 cash for salary expense.
8. Signed a contract to provide additional services in the future.
9. Paid $1,200 cash for rent expense.
10. Paid a $1,000 cash dividend to the stockholders.
11. Determined the market value of the land to be $18,000 at the end of the accounting period.
Required:
Classify each event as an asset source, use, or exchange transaction or as not applicable (NA).

Answer 1

Step-by-step explanation:

AS U BEING MY FRIEND I WILL WARN ABOUT MY HUMAN BEING IN THE TELESCOPE. BUT WHAT I REALLY NEED TO TALK TO U ABOUT IS THE FLYING SAUSAGE INCIDENT I DON’T THINK I TALKED TO U ABOUT THIS BUT U REALLY SHOULD KNOW THAT I AM SECRETLY A FLYING SAUSAGE NOT ONLY AM I A FLYING SAUSAGE BUT I AM THE FLYING SAUSAGE THAT TOOK THE WALKING CHEESEBURGERS PICKLES. I NEED UR HELP TO ESCAPE THE POLICE MEN BECAUSE THE ONLY REASON I STOLE HIS PICKLES WAS BECAUSE I WAS GOING THROUGH THIS THING WHERE ALL I WANTED TO DO WAS EAT PICKLES AND MY MOM WOULDN’T BUY ANY. I HAD NO MONEY SO I DIDN’T KNOW WHAT ELSE TO DO. I WALKED OVER TO THE CHEESEURGER AND TOOK HIS PICKLES. APPARENTLY THATS AGAINST THE LAW BUT I STILL DID IT. I ALREADY ATE THE PICKLES SO I CAN’T RETURN THEM. I ASKED BOBBYJO TO PUT ME IN A BOX AND SEND ME TO NORTH CAROLINA SO I AM NOW IN NEW ENGLAND I NEED U TO GO ON A SECRET MISSION AND GO BUY ME A PRIVATE JET U SEE I CAN NOT FLY ANYMORE SO I NEED SOMEONE TO SEND ME A PRIVATE JET NOT A AIRPLANE I ALREADY HAVE 2,345 AIRPLANES PLEASE DO NOT SEND ME AN AIRPLANE.PLEASE AND THANK YOU I HOPE U CAN COMPLETE MY MISSION.

THE YOUNG HOT WING

DID U KNOW THAT A LONG TIME AGO THERE ONCE WAS A YOUNG HOT WING HE WAS A VERY NICE HOT WING EXCEPT HE WANTED TO HE TOMATO'S NOT JUST NORMAL TAMATO'S BUT TOMATO'S FROM A CLOWNS NOSE. HE HAD TO HAVE THE CLOWNS NOSE'S FOR EVERY MEAL BUT THEY HAD TO BE USED.

THIS HOT WING ENDED UP AS A MODEL IN THE 1780'S. HE TURNED OUT NICE AND RED WITH HOT SAUCE. ONE DAY AT A MODELING SHOW A GUY DECIDED TO GO UP ON STAGE AND TAKE A BIG JUICY BITE OUT OF THE HOT WING. THE HOT WING CRIED AND CRIED FOR A MILLION YEARS BECAUSE HE COULD NO LONGER BE A MODEL. AFTER HE CRIED FOREVER HE WAS VERY MOLDY SO HE STARTED TO CRY AGAIN. AFTER THAT THE LITTLE MOLDY PARTS CAME OF OF HIM AND BECAME SERGEANTS THEY STICTICHED UP THE HOTWINGS WHOLE. BY NOW THE YOUNG HOT WING IS A VERY OLD BUT HE STILL COMPLETED HIS MODELING CAREER. AFTER THE SERGEANT'S FIXED UP THE HOT WING THEY GOT A HOTDOG AND ATE IT.