David”s Paint Supply experienced the following events during 2012, its first year of operation:


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David”s Paint Supply experienced the following events during 2012, its first year of operation: 1 answer below » Recording inventory transactions in a financial statements model David’s Paint Supply experienced the following events during 2012, its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Purchased inventory for $24,000 cash. 3. Sold inventory costing $13,000 for $22,000 cash. 4. Paid $1,600 for advertising expense. Required Record the events in a statements model like the one shown below. Assets = Equity Rev. – Exp. = Net Inc. Cash Flow Cash + Inv. = Com. Stk. + Ret. Earn. Jul 24 2014 07:51 AM

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