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Question - Samson Company had the following transactions.
1. Issued 4,000 shares of $100 par preferred stock at $107 for cash.
2. Issued 8,000 share of common stock with a par value of $10 for $110,000.
3. Purchased 500 shares of treasury common stock for $12,000.
Instructions - Prepare the journal entries to record the above stock transactions.
ACC 304: Intermediate Accounting Assignment. Differentiate between financial accounting and managerial accounting
They sold the house in May for $795,000. Broker's commissions and other selling expenses amounted to $45,000. Since they both are age 68, they decide to rent an apartment. They purchase an annuity with the net proceeds from the sale. What is the r..
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