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Financial Accounting, Assignment Ch2, Problem 2-3

Autor:   •  April 17, 2019  •  Coursework  •  325 Words (2 Pages)  •  576 Views

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Financial Accounting, Assignment CH2, Problem 2-3

           

No.

Description

Debit ($)

Credit ($)

1.

Cash

100,000

Capital stock

100,000

2.

Bonds payable

25,000

Capital stock

25,000

3.

Retained earning

8,500

Accumulated depreciation

8,500

4.

Inventory

15,900

Cash

15,900

5.

Inventory

9,400

Accounts payable

9,400

6.

Accounts receivable

7,200

Inventory

4,500

Retained earnings

2,700

7.

Cash

3,500

Accounts receivable

3,500

8.

Retained Earnings

3,000

Dividends payable

3,000

9.

Dividends payable

3,000

Cash

3,000

10

There is no effect in the company capitalization, because After replacing each outstanding share with two new shares,        the value of each share reduced by half.

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