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PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving...

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PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] IThe following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year the company earned $480.000 of net income and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $63 cash per share. b. Reacquired 33,000 shares at $58 cash per share c. Reissued 14,000 shares from treasury for $59 per share. d. Reissued 14,000 shares from treasury for $57 per share References section break PA11-1 Analyzing Accourting Equation Effects. Recording Journ

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