The Following Events Occurred for Jarvis Company During 2012, Its

question 81

Essay

The following events occurred for Jarvis Company during 2012, its first year in operation:
1. issued stock to investors for $35,000 cash
2. borrowed $15,000 cash from the local bank
3. provided services to its customers and received $22,000 cash
4. paid expenses of $18,000
5. paid $12,000 cash for land
6. paid dividend of $2,000 to stockholders
7. repaid $2,000 of the loan listed in item 2
Required:
Show the effects of the above transactions on the accounting equation, below. Include dollar amounts of increases and decreases. The first is done for you. After entering all the events, calculate the total amounts of assets, liabilities, and equity at the end of the year.

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Definitions:

Transpiration

The process by which water is absorbed by plant roots, moves through plants, and evaporates primarily from leaves, playing a key role in plant water regulation and nutrient uptake.

Cotransport

A membrane transport mechanism that simultaneously moves two substances across a cell membrane in the same direction, one typically driving the movement of the other.

Transpiration

The process by which moisture is carried through plants from roots to small pores on the underside of leaves, where it changes to vapor and is released into the atmosphere.

Translocation

The process in plants where nutrients and sugars produced in the leaves are transported to other parts of the plant through the phloem.