On September 1, 2014, Fast Track, Inc

question 123

Essay

On September 1, 2014, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2014, the accounting records contained the following amounts:
Required:
Prepare a statement of stockholders' equity for September, the first month of operation. Ignore income taxes.

---

Definitions:

Tariff

A tax imposed on imported goods, usually to protect domestic businesses and market from foreign competition.

Liberalization

The process of reducing government regulations and restrictions in an economy to encourage more business activities and investments.

GATT

General Agreement on Tariffs and Trade, a legal agreement minimizing barriers to international trade.

Tariff

A tax imposed on imported goods and services, typically to restrict trade, increase government revenue, or protect domestic industries.