Transactions Reconstructed from Financial Statements The following financial statements are…

Transactions Reconstructed from Financial Statements The following financial statements are…

Transactions Reconstructed from Financial Statements

The following financial statements are available for Elm Corporation for its first month of operations:

 

Required

Using the format illustrated in Exhibit 3-1, prepare a table to summarize the transactions entered

into by Elm Corporation during its first month of business. State any assumptions you believe are

necessary in reconstructing the transactions.

 

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