in december 2008, hawaiian telcom took action to strengthen its balance sheet by reducing debt. although the company continued to operate, its creditors could not collect their debts or loan payments that were due prior to the legal action that the company took. however, on november 30, 2009, the company had $75 million in cash on hand.

Dakota company experienced the following events during 2016. 1. acquired $30,000 cash from the issue of common stock. 2. paid $12,000 cash to purchase land. 3. borrowed $10,000 cash. 4. provided services for $20,000 cash. 5. paid $1,000 cash for utilities expense. 6. paid $15,000 cash for other operating expenses. 7. paid a $2,000 cash dividend to the stockholders. 8. determined that the market value of the land purchased in event 2 is now $12,700