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QS 13-2 Corporate financial statements LO2 Ludwig Ltd. showed the following amounts for its year...

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Accounting

QS 13-2 Corporate financial statements LO2

Ludwig Ltd. showed the following amounts for its year just ended October 31, 2014. Prepare a multi-step income statement assuming a tax rate of 25%.

QS 13-3 Components of the equity section of a corporate balance sheet LO2

From the following list of selected accounts for X-cell Inc., identify the equity accounts. Use CC for contributed capital, RE for retained earnings, and X if not an equity account.

QS 13-4 Corporate financial statements LO2

Vision Consulting began operations on January 1, 2014. Complete the following schedule with journal entries detailing the transactions during 2014 for Vision Consulting under two forms of organization: as a single proprietorship (owned by Ian Smith), and as a corporation.

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