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Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.)
1) Acquired $950 cash from the issue of common stock.
2) Borrowed $420 from a bank.
3) Earned $650 of revenues.
4) Paid expenses of $250.
5) Paid a $50 dividend.
During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)
1) Issued an additional $325 of common stock.
2) Repaid $220 of its debt to the bank.
3) Earned revenues of $750.
4) Incurred expenses of $360.
5) Paid dividends of $100.
-Nelson Company began operations on December 1,Year 1.The following transactions and adjustments were recorded in December and posted to the company's ledger accounts:
1) Acquired $9,000 cash from the issue of common stock to its stockholders.
2) Provided services on account for $7,500.
3) Paid $4,500 cash for land.
4) Owed $3,000 of salaries expenses to employees for work done in December that will be paid during January.
5) Purchased $900 of supplies on account to be used in January.
6) Collected $3,900 from customers.
Zen Meditation
Zen Meditation is a form of Buddhist practice that focuses on sitting meditation and the cultivation of awareness and insight into the nature of existence.
TM
Transcendental Meditation, a form of silent mantra meditation developed by Maharishi Mahesh Yogi, aimed at promoting relaxation and reducing stress.
Auditory Acuity
The ability or sharpness to hear and distinguish sounds accurately.
LSD
Lysergic acid diethylamide, a powerful hallucinogenic drug that alters perception, mood, and numerous cognitive processes.
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