Cash from the issue of common stock

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[The following information applies to the questions displayed below.] Valmont, Inc., experienced the following events in 2012, in its first year of operation. 1. Received $26,000 cash from the issue of common stock. 2. Performed services on account for $46,000. 3. Paid the utility expense of $4,100. 4. Collected $42,000 of the accounts receivable. 5. Recorded $8,600 of accrued salaries at the end of the year. 6. Paid a $2,600 cash dividend to the shareholders. 1.value: 5.00 pointsRequired information Required: (a) Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to select "0" and "NA" wherever required. Omit the "$" sign in your response.) Valmont, Inc. General Ledger Accounts for the Year Ended December 31, 2012 Assets = Liabilities + Stockholders' Equity Event Cash Accounts Rec. = Salaries Pay. + Common Stock Retained Earnings Acct. Title for RE 1. 26,000 NA NA 26,000 NA NA 2. 3. 4. 5. 6. Totals = +

Reference no: EM13864926

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Cash from the issue of common stock : The following information applies to the questions displayed below.] Valmont, Inc., experienced the following events in 2012, in its first year of operation. 1. Received $26,000 cash from the issue of common stock. 2. Performed services on account fo..

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