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Business, 19.08.2021 01:00 kaywendel2008
Selected transactions for Flint Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,800 cash received from investors. 5 Purchased equipment for $8,690, paying $2,840 in cash and the balance on account. 8 Performed services on account for $19,900. 14 Paid salaries of $3,100. 25 Paid $3,120 cash on balance owed for equipment. 30 Paid $630 cash dividend. (a) Complete a tabular analysis of the September transactions. For transactions affecting stockholders’ equity, provide explanations in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example.)
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Selected transactions for Flint Corporation during its first month in business are presented below....
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