What are the effects of the following types of transactions on the accounting equation? Also identify the
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What are the effects of the following types of transactions on the accounting equation?
Also identify the fi nancial statements that are affected. (Assume that the perpetual inventory system is used.)
a. Acquisition of cash from the issue of common stock.
b. Contribution of inventory by an owner of a company.
c. Purchase of inventory with cash by a company.
d. Sale of inventory for cash.
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Related Book For
Survey Of Accounting
ISBN: 9780077503956
3rd Edition
Authors: Bor Yi Tsay, Thomas Edmonds, Philip Olds, Frances Mcnair
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