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    During 2010 Its First Year of Operations As A Delivery

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    M Bilal Saleem
    During its first year of operations in 2010, Lopez Corp. entered into several financial transactions. These included issuing stock to raise $100,000, borrowing $45,000 by issuing bonds, purchasing $60,000 worth of delivery trucks, receiving $16,000 in revenue, and paying expenses such as $5,600 in rent and $28,000 in salaries. The company also paid a $11,000 dividend to shareholders.

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    During 2010 Its First Year of Operations As A Delivery

    Uploaded by

    M Bilal Saleem
    12 views1 page
    During its first year of operations in 2010, Lopez Corp. entered into several financial transactions. These included issuing stock to raise $100,000, borrowing $45,000 by issuing bonds, purchasing $60,000 worth of delivery trucks, receiving $16,000 in revenue, and paying expenses such as $5,600 in rent and $28,000 in salaries. The company also paid a $11,000 dividend to shareholders.

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    During 2010 Its First Year of Operations as a Delivery

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    During its first year of operations in 2010, Lopez Corp. entered into several financial transactions. These included issuing stock to raise $100,000, borrowing $45,000 by issuing bonds, purchasing $60,000 worth of delivery trucks, receiving $16,000 in revenue, and paying expenses such as $5,600 in rent and $28,000 in salaries. The company also paid a $11,000 dividend to shareholders.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views1 page

    During 2010 Its First Year of Operations As A Delivery

    Uploaded by

    M Bilal Saleem
    During its first year of operations in 2010, Lopez Corp. entered into several financial transactions. These included issuing stock to raise $100,000, borrowing $45,000 by issuing bonds, purchasing $60,000 worth of delivery trucks, receiving $16,000 in revenue, and paying expenses such as $5,600 in rent and $28,000 in salaries. The company also paid a $11,000 dividend to shareholders.

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    © All Rights Reserved
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    During 2010 its first year of operations as a delivery

    During 2010, its first year of operations as a delivery service, Lopez Corp. entered into the
    following transactions.1. Issued shares of common stock to investors in exchange for $100,000
    in cash.2. Borrowed $45,000 by issuing bonds.3. Purchased delivery trucks for $60,000 cash.4.
    Received $16,000 from customers for services provided.5. Purchased supplies for $4,200 on
    account.6. Paid rent of $5,600.7. Performed services on account for $10,000.8. Paid salaries of
    $28,000.9. Paid a dividend of $11,000 to shareholders.InstructionsUsing the following tabular
    analysis, show the effect of each transaction on the accounting equation. Put explanations for
    changes to Stockholders’ Equity in the right-hand margin. Use Illustration 3-3 shown below as a
    model. (“P/P/E” refers to Property, Plant, and Equipment.)Illustration3-3
    View Solution:
    During 2010 its first year of operations as a delivery
    SOLUTION-- http://expertanswer.online/downloads/during-2010-its-first-year-of-operations-as-a-
    delivery/

    See Answer here expertanswer.online


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