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How to Finalized Accounts? Please Guide.
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Answer / rupaun barua
After completing the recording of financial transaction,
all adjusting entries will have to be recorded in the
ledger and finanally a Balance Sheet will have to be
prepared by taking ledger balances.The Balance Sheet is
called the end product of Accounts.
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Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
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