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Recording Journal Entries
Lightning Fast Computer Company recently began operations and had the following transactions related to common stock. Prepare journal entries for each transaction.
a. 16,000 shares of $2 par value common stock were sold at a price of $25 a share.
b. 1,500 shares of common stock were reacquired by the issuing firm at $45 per share.
c. A dividend of $6 per share was declared and paid.
d. a 10% stock dividend was declared and distributed when the market price per share was $40.
During its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs - Prepare an Adjusted Trial Balance in the space below.
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Preparation of the balance sheet from the given transactions for events occurred at Handsome Hounds Grooming Company during its first year of business
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The taxpayer has consistently, but incorrectly, used an allowance for bad debts. At the beginning of the year, the balance in the allowance account is $90,000
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What action could San Fernando take on its export pricing? What probable U.S. government action may result from your decision in 1?
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