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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 $1,800 and related cost of goods sold was $1,200. b. Issued 5,000 shares of $1 per value stock for $60,000 cash. Event a. b. b. Assets Accounts receivable Cash 1,800 ●€0,000 - Answer is not complete. Stockholders' Equity Common stock Additional paid in capita 5.000 55.000

Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $1,800 and related cost of goods sold was $1,200. b. Issued 5,000 shares of $1 per value stock for $60,000 cash. Event a. b. b. Assets Accounts receivable Cash 1,800 ●€0,000 - Answer is not complete. Stockholders' Equity Common stock Additional paid in capita 5.000 55.000

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 $1,800 and related cost of goods sold was $1,200. b. Issued 5,000 shares of $1 par value stock for $60,000 cash. Event a. 8. b. b. Assets Accounts receivable Cash 1,800 →60,000 - > Answer is not complete. Liabilities Stockholders' Equity Common stock Additional paid-in-capital 5.000 65.000
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 $1,800 and related cost of goods sold was $1,200. b. Issued 5,000 shares of $1 par value stock for $60,000 cash. Event a. 8. b. b. Assets Accounts receivable Cash 1,800 →60,000 - > Answer is not complete. Liabilities Stockholders' Equity Common stock Additional paid-in-capital 5.000 65.000
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