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The Drain Surgeon Corp's equity on January 1 was as follows: common shares,unlimited shares authorized,250,000 shares issued and outstanding; retained earnings,$1,000,000.
Prepare journal entries to record the following transactions:
Company Layoffs
The process by which a company reduces its workforce for reasons such as cost-cutting, restructuring, or downturns in business.
Legal Liabilities
Obligations under law arising from civil actions or torts, not fulfilling contracts, or statutory violations.
Negative Publicity
Unfavorable media coverage or public perception, often resulting from controversial actions or statements by an individual or organization.
Complaint on Twitter
The expression of dissatisfaction or reporting of a problem through the social media platform Twitter.
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