Business, 24.01.2020 22:31, ultimatesaiyan

Cannon sporting goods is one of the world's leading manufacturers of athletic shoes and sports apparel. the following activities occurred during a recent year. the amounts are rounded to millions, except for par value.

a. purchased additional buildings for $174 and equipment for $260; paid $404 in cash and signed a long-term note for the rest.

b. issued 90 shares of $2 par value common stock for $340 cash.

c. declared $145 in dividends to be paid in the following year

d. purchased additional short-term investments for $7,716 cash.

e. several cannon sporting goods investors sold their own stock to other investors on the stock exchange for $90.

f. sold $4,313 in short-term investments for $4,313 in cash.

required:

for each of the events (a) through (a. perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and for decrease) on the accounting equation.

check that the accounting equation remains in balance after each transaction. (if no impact on the accounting equation leave cells blank

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 01:30, rome58

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:

Answers: 3

continue

Business, 22.06.2019 04:00, brucewayne8499

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Answers: 2

continue

Business, 22.06.2019 13:30, austinmiller3030

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

Answers: 2

continue

Business, 22.06.2019 19:40, pchisholm100

You estimate that your cattle farm will generate $0.15 million of profits on sales of $3 million under normal economic conditions and that the degree of operating leverage is 2. (leave no cells blank - be certain to enter "0" wherever required. do not round intermediate calculations. enter your answers in millions.) a. what will profits be if sales turn out to be $1.5 million?

Answers: 3

continue

Do you know the correct answer?

Cannon sporting goods is one of the world's leading manufacturers of athletic shoes and sports appar...