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Assume Costco has a beginning balance in equity of $30,000 on September 1st. During September, the following transactions occur. Costco issues 1,000 new shares for
Assume Costco has a beginning balance in equity of $30,000 on September 1st. During September, the following transactions occur. Costco issues 1,000 new shares for $9 a share. Costco has net income for the year of $48,000. Costco borrows $56,000 from a bank. What is Costco's ending balance in equity on September 30th?
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
