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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            amountsofrevenue,expense,anddividendsintheRetainedEarningscolumn.Provide             theappropriatetitlesfortheseac ...Read More

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