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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Ferguson Company was started in 2008 when it acquired $60,000 from the issue of common stock. The following data summarize the company's first years' operating activities. Assume that all transactions were cash transactions. 2008 2009 2010 Purchase of Inve 24,000 12,000 25,500 Sales 26,000 30,000 36,000 Cost goods sold 13,400 18,500 20,000 Selling & administrative expenseses (2008)5,500 (2009)8,200 (2010)10,100 Required Prepare an income statement (use the multistep format) and balence sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.)
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