Presented below are some business transactions that occurred during 2021 for Kilgana Company: 
Instructions
For each situation above, identify the assumption, concept, or constraint that has been violated, if any. If the entry is incorrect, prepare the entry that should have been made, if any.
Definitions:
Everyday Items
Common products or goods used regularly for daily activities or needs.
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, allowing for competition based on quality, price, and brand.
Differentiated
Pertains to a marketing strategy where a company offers unique features, benefits, or product variations to stand out from competitors.
Competing
Involves entities or individuals striving against each other to achieve a goal that cannot be shared.
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Q21: In the following transactions, indicate when revenue
Q24: The following selected transactions pertain to the
Q26: Dividends are declared out of<br>A) Contributed Capital.<br>B)
Q53: A detailed listing of all the assets
Q54: On July 1, 2021, Yukon Minerals Co.
Q75: Depreciation is the process of allocating the
Q106: Articles of incorporation form the corporation's "constitution".
Q137: The statement that reflects the changes in
Q144: Bob Spade and Ken Lundy have formed