During 2014, Comstock Company entered into the following transactions. 1. Purchased equipment for…


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During 2014, Comstock Company entered into the following transactions. 1. Purchased equipment for… 1 answer below ยป During 2014, Comstock Company entered into the following transactions. 1. Purchased equipment for $286,176 cash. 2. Issued common stock to investors for $137,590 cash. 3. Purchased inventory of $68,480 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders’ Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration3-3 as a model. Sep 08 2015 09:37 PM

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