On september 1, ziegler corporation had 52,000 shares of $5 par value common stock, and $156,000 of retained earnings. on that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split.
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A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 2018, for $54,000 and then sells this inventory on account on March 7, 2018, for $74,000.
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