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Business, 26.11.2019 20:31 rhettperkins

Dolphincorporationwas established to manufacture two types of die casts, gidgets and widgets. the manufacturing process involves molding the fittings and then smoothing them. the firm was initially capitalized with $600,000 as an s corporation. the firm purchased equipment for $450,000 with cash of $150,000 and a note payable of $300,000. it also acquired a furniture for $150,000 with cash of $60,000 and a note payable of $90,000. management is now preparing the master budget for the first year of operations.

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