The Following Events Occurred for Rez Company During Its First

question 19

Essay

The following events occurred for Rez Company during 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:

Visual Models

Diagrams or representations used to illustrate complex information or processes, facilitating easier understanding and analysis.

Potential Product

The concept of what a product could become or the highest value that a product can deliver to a consumer, incorporating all possible augmentations and transformations the product might undergo.

Idea Generation

The creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be tangible or intangible.

Company's Employees

Individuals hired by a company to perform tasks and services in exchange for wages or salaries.