The Following Events Occurred for Ringgold Company During 2015,its First

Essay

The following events occurred for Ringgold Company during 2015,its first year in operation:
1.Issued stock to investors for $45,000 cash
2.Borrowed $25,000 cash from the local bank
3.Provided services to its customers and received $32,000 cash
4.Paid expenses of $28,000
5.Paid $22,000 cash for land
6.Paid dividend of $12,000 to stockholders
7.Repaid $10,000 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.Precede the amount with a minus sign if the event reduces that section of the equation.Enter NA for items not affected.If one section is affected by an increase and also a decrease,enter each part on a separate line.
The first event is done for you.After entering all the events,calculate the total amounts of assets,liabilities,and equity at the end of the year.