The following balances were shown on the year-end balance sheets for 2009 and 2010 for Columbia Company.

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For each item, give the most likely reason for the change from one year to thenext.

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Financial Accounting: A Business Process Approach

ISBN: 978-0136115274

3rd edition

Authors: Jane L. Reimers

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Question Posted: Sep 01, 2014 12:50 PM

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The following balances were shown on the year-end balance sheets for 2009 and 2010 for Columbia Company.

Question:

December 3 D December 31, Explanation Common stock Paid-in capital Retained earnings Treasury stock Net income for the year was $20,000 2009 45,000 $200,000 $182,500 2010 $ 50,000 $230,000 $200,000 (3,450) (5,450)

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Account Likely reason for change Common Stock Issued addition...View the full answer

Financial Accounting: A Business Process Approach

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