Maben company was started on january 1, year 1, and experienced the following events during its first year of operation: acquired $30,000 cash from the issue of common stock. borrowed $40,000 cash from national bank. earned cash revenues of $48,000 for performing services. paid cash expenses of $25,000. paid a $1,000 cash dividend to the stockholders. acquired an additional $20,000 cash from the issue of common stock. paid $10,000 cash to reduce the principal balance of the bank note. paid $53,000 cash to purchase land. determined that the market value of the land is $75,000.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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