Journalize the entries for april 1 and 7
April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. Journalize the entries for April 1 and 7.
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Hugh Snore Bedding, Inc., has assets of $400000 and turns over its assets 1.5 times per year. Return on assets is 12 percent. What is its profit margin?
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As a result of a comprehensive analysis, it is determined that the December 31, 2011 balance of Allowance for Bad Debts should be $6,300. Show, in general journal format the adjustment required.
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