Opt_Prob_Solutions_Chap_2_Solutions

Opt_Prob_Solutions_Chap_2_Solutions - Optional Problem...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Optional Problem Solutions for Chapter 2 E2–5. Req. 1 Assets = Liabilities + Stockholders’ Equity a. Buildings Equipment Cash +182.0 +21.9 – 48.1 Long-term note payable +155. 8 b. Cash +253.6 Contributed capital +253. 6 c. Dividends payable +179.2 Retained earnings –179.2 d. Short-term investments Cash +400. 8 – 400.8 e. No effects f. Cash Short-term Investments +1.4 –1.4 Req. 2 The separate-entity assumption states that transactions of the business are separate from transactions of the owners. Since transaction (e) occurs between the owners and others in the stock market, there is no effect on the business.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
E2–7. Req. 1 a. Buildings (+A). ...................................................................... 182.0 Equipment (+A) . ................................................................... 21.9 Cash ( - A). ........................................................................ 48.1
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This homework help was uploaded on 02/19/2009 for the course HA 230 taught by Professor Davidlee during the Fall '06 term at Cornell University (Engineering School).

Page1 / 4

Opt_Prob_Solutions_Chap_2_Solutions - Optional Problem...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online