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Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity

Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a. a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity
Transcribed Image Text:Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a. a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity
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