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Help me with ACCT 2010 OB Financial Accounting Week 1 Homework


Question - Question 1 
Foster Corp. completed the following transactions during 2013: 
1.Purchased land for $7,500 cash. 
2.Acquired $30,000 cash from the issue of common stock. 
3.Received $69,000 cash for providing services to customers. 
4.Paid cash operating expenses of $41,500. 
5.Borrowed $15,000 cash from the bank. 
6.Paid a $7,500 cash dividend to the stockholders. 
7.Determined that the market value of the land purchased in event 1 is $40,000. 
  
Required: 
a.Recordthetransactionsintheappropriategeneralledgeraccounts.Recordthe    ...Read More

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