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Pfizer Inc. has experienced several financial transactions in 2023. Prepare the journal entries, post them to the ledger, and prepare the trial balance. Transactions include:
- Pfizer Inc. has experienced several financial transactions in 2023. Prepare the journal entries, post them to the ledger, and prepare the trial balance. Transactions include: issuance of common stock for $400,000, purchase of equipment for $240,000, sales revenue of $800,000, salary expense of $160,000, and payment of dividends $80,000. Discuss the overall financial position of the company based on the trial balance and suggest any necessary adjustments.
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Understanding Financial Accounting
Authors: Christopher D. Burnley
2nd Canadian Edition
1119406927, 978-1119406921
