Analysis of transactions and preparation of the income statement
Analysis of transactions and preparation of the income statement and balance sheet Zealock Bookstore opened a bookstore near a college campus on July 1, 2008. Transactions and events of Zealock Bookstore during 2008 follow. The firm uses the calendar year as its reporting period.(1) July 1, 2008: Receives $25,000 from Quinn Zealock for 25,000 shares of the bookstore’s $1 par value common stack.(2) July 1, […]