Tutorial 1 - Christy Lemonade Case Study

Tutorial 1 - Christy Lemonade Case Study - CHRISTY'S...

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CHRISTY’S LEMONADE STAND On the first Saturday after school is out, Christy and her family go to the park for a picnic. After lunch, Christy, who is eight years old, takes a walk around the park with her Dad. At one end of the park, she sees young girl selling lemonade in front of a house across the street. She recognizes the girl as one of her classmates, and Christy and Dad cross the street for a chat. Her classmate, Abigail is doing a brisk business selling lemonade at 25cents per cup, and shows Christy a shoebox full of dollar bills and quarters. On the way home, Christy asks if she can set up a lemonade stand next Saturday. Her Uncle Eldon, who likes to build things with wood, offers to build her a lemonade stand if she can pay him for the materials (about $10, he thinks), plus $1 for his labor. Her little brother, Andy, offers to help out, and Christy agrees to pay him $2 to be her assistant. The next Friday, Christy’s Mom estimates the amount of lemonade mix and other supplies that
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This note was uploaded on 04/18/2008 for the course ACCOUNTING AFM101 taught by Professor Foerster during the Spring '08 term at Waterloo.

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Tutorial 1 - Christy Lemonade Case Study - CHRISTY'S...

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