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Highland Corporation was organized on January 1, 2014. It is authorized to issue 50,000, $3 noncumulative preferred shares , and an unlimited number of common shares. The following transactions were completed during the first year:
July24. Issued 20,500 common shares for $60,000 cash and used equipment. The equipment originally cost $25,000. It now has a carrying amount of $15,000 and a fair value of $12,000.
Problem 1: What is the journal entry for this transaction?
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Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2012, their AGI is $50,000. Harriet earned $46,000 and Harry earned $4,000. (Leave no cells blank - be certain to enter "0" wherever required. Om..
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Assistance on how to make the journal entries for this Gov't Accounting
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