Effect does transaction have on the accounting equation
Suppose a corporation issues 5,000 shares of $1 par common stock for $30 per share. In addition to the increase in cash, what effect does this transaction have on the accounting equation?
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The current ratio of a company is 4 and its quick ratio is 1. If the inventory amount to $450,000, what is the amount of current liabilities?
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What amount should gordon report as inventory on its June 30,2011, balance sheet?
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