Listed below are descriptions of six transactions, followed by a table listing six unique combinations of financial
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Purchased machinery for $5,000, paying $1,000 cash and issuing$4,000 note pay- able for the balance.
Billed clients $16,000 on account.
Recorded a $500 maintenance expense of which $100 was paid in cash and the remaining amount was due in 30 days.
Paid an outstanding account payable of $400.
Recorded monthly utilities costs of $300. The entire amount is due in 20 days.
Declared a $40,000 dividend to be distributed in 60days. Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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