320CheckFigures_03 - is receiving cash (from B.D. Mehta)...

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CHAPTER 3 The Accounting Information System CHECK FIGURES FOR SELECTED EXERCISES BRIEF EXERCISE 3-1 The May 1 entry wording might be confusing. B.D. Mehta is an individual and is making a $4,000 investment into a small welding corporation. The small welding corporation is Mehta Company and this transaction is from the company’s viewpoint. So, the company
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Unformatted text preview: is receiving cash (from B.D. Mehta) and issuing common stock. EXERCISE 3-5 No real check figures to post. Just prepare the adjusting entries as necessary. They are for a quarter so some of the amounts need to be multiplied by 3. NOTE: #4 means the supplies remaining are worth $650 (ending balance) 3-1...
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