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Problem 1: The following are selected accounts and balances from the records of Furry Corporation on June 30,2007. Instructions Prepare in proper form the stockholders'
Problem 1: The following are selected accounts and balances from the records of Furry Corporation on June 30,2007. Instructions Prepare in proper form the stockholders' equity section of the balance sheet. Problem 2: Classify each of the following transactions as operating, investing, or financing activities and whether it is an inflow or outflow: 1. Issued common stock for cash. 2. Paid employees' salaries. 3. Sold equipment. 4. Received a dividend. 5. Paid a dividend. 6. Provided services for on account. 7. Purchased land and building. 8. Issued bonds. 9. Paid interest on bonds. 10. Purchased inventory. 11. Sold merchandise. 12. Loaned cash. 13. Paid off bonds. 14. Purchased equipment 15. Bought stock in another company
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