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equirea intormation [ The following informatlon applies to the questions displayed below. ] Laser Delivery Services, Incorporated ( LDS ) , was Incorporated January 1
equirea intormation
The following informatlon applies to the questions displayed below.
Laser Delivery Services, Incorporated LDS was Incorporated January The following transactlons occurred during the
year:
a Recelved $ cash from the company's founders in exchange for common stock.
b Purchased land for $ signing a twoyear note Ignore interest
c Bought two used delivery trucks at the start of the year at a cost of $ each; pald $ cash and signed a note
due In three years for $Ignore interest
d Pald $ cash to a truck repalr shop for a new motor, which Increased the cost of one of the trucks.
e Stockholder Ruby Lee pald $ cash for a house for personal use.
Required:
Prepare a classified balance sheet for Laser Delivery Services at December Include Retalned Earnings on the balance sheet
even though the account has a zero balance.
Answer is not complete.
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