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A Plus Corporation issued 5,000 shares of no-par common stock for $40 per share. A Plus also issued 2,000 shares of $50 par, 5 percent noncumulative preferred stock at $55 per share.
Required:
a. Record these events in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event.
b. Prepare journal entries to record these transactions.
1.On July 15, 2013, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each.
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The Clorox Company is a leading manufacturer and marketer of consumer and institutional products with approximately 8,100 employees worldwide and fiscal year 2011 net sales of $5.2 billion.
Determine the missing amounts associated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an amount is zero, enter in "0".
Craig Thorne works in a public accounting firm and hopes to eventually be a partner.
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