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Coca-Cola Company issues common stock worth $50,000,000. Coca-Cola Company purchases raw materials on credit for $6,500,000. Coca-Cola Company sells beverages for $22,000,000 in cash. Coca-Cola

  1. Coca-Cola Company issues common stock worth $50,000,000.
  2. Coca-Cola Company purchases raw materials on credit for $6,500,000.
  3. Coca-Cola Company sells beverages for $22,000,000 in cash.
  4. Coca-Cola Company pays $3,000,000 for manufacturing expenses.
  5. Coca-Cola Company pays $2,800,000 in wages.
  6. Coca-Cola Company receives $1,800,000 in cash for services rendered.
  7. Coca-Cola Company buys bottling equipment for $3,500,000 cash.
  8. Coca-Cola Company incurs $900,000 in advertising expenses.
  9. Coca-Cola Company declares and pays dividends of $2,200,000.
  10. Coca-Cola Company records $900,000 in depreciation expense.
  1. Record those transactions in a journal.
  2. Prepare a trial balance.
  3. Prepare an income statement for the year ended.
  4. Prepare a balance sheet for the year ended.

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