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Refer 2-5.
a. Purchased $ 216 in equipment; paid by signing a $ 5 long- term note and fulfilling the rest with cash.
b. Issued $ 21 in additional common stock for cash contributions made by stockholders.
c. Several NIKE investors sold their own stock to other investors on the stock exchange for $ 110 per share of stock.
Required:
1. For each of the events in E2- 5, prepare journal entries, checking that debits equal credits.
2. Explain your response to event (c).
For each AICPA Trust Services Principles category shown list a potential risk and a corresponding control that would lessen the risk. An example is provided. In a similar mann
Received $ 10,000 cash from owners and issued stock to them. Borrowed $ 7,000 cash from a bank and signed a note due later this year.Bought and received $ 800 of equipment on
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Analyze transactions (a)-(e) to determine their effects on the accounting equation, similar to Exhibit 2.5. Record the transaction effects determined in requirement 1 using a
Complete the spreadsheet that follows, using plus (1) for increases and minus (2) for decreases for each account. The first transaction is used as an example.. Did you include
Analyze transactions (a)-(f) to determine their effects on the accounting equation. Record the transaction effects determined in requirement 1 using journal entries. Explain y
Analyze transactions (a)-(e) to determine their effects on the accounting equation. Use a spreadsheet format with a column for each account, enter the July 1 amounts in the fi
Discuss which type of fraud is involved in this case, from the perspective of the mail order company Which of the AICPA Trust Services Principles most closely related to this
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