Finance > PROJECT FINAL > University of Illinois, Chicago FIN MISC Project-2-4-REVIED BY EXPERTS 2021 (All)

University of Illinois, Chicago FIN MISC Project-2-4-REVIED BY EXPERTS 2021

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Instructions for Project 2.4 Journal Entries for Equity Transactions and Equity-based Compensation Project Instructions  Please read the following instructions and review the table carefully. T... hen, enter answers for journal items ([A] to [Z] in the next item in this Lesson, called Project 2.4 Journal Entries for Equity Transaction & Equity-Based Compensation.  You may keep these instructions open in a separate browser or download the instructions, and open it as you work through the exercise.  For specific layout of the ledger, please refer to the file below. The Balance Sheet of the Illini as of 12/31/20X0: Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net 18,000 Inventory 50,000 Total current assets 1,568,000 Equipment 90,000 Goodwill 20,000 Total assets $1,678,000 Liabilities and shareholders' equity Shareholders' equity: Common stock, 20,000 shares outstanding, $1 par $20,000 Additional paid-in capital 280,000 Retained earnings 1,378,000 1 Financial Reporting Capstone, University of Illinois at Urbana-Champaign, Dept of Accountancy [Show More]

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