Question: Hello please help me with this. ABC Company Transaction Analysis The ABC Company had the following transactions in 2 0 2 1 , the first
Hello please help me with this.
ABC Company Transaction Analysis
The ABC Company had the following transactions in the first year of it;s operations:
Issued shares of stock at $ per share
Borrowed $
Purchased building for $
Purchased inventory on credit for $
Paid supplier $
Company president sold shares of ABC stock from his personal holding
As a favor the company president, Robert displayed the compay logo in his movie
Sold merchendise for $ on credit
Cost of the merchandise sold in is $
Salary paid to managers $
Use of building useful life years, salvage value $
Interest expense on load @
Dividends declared and paid $
Required:
a Record these business transactions using the provded spread sheet template
B Prepare an income statement a statement of retained earnings a balance sheet, a statement of cash flows for the first year of the ABC company
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