Chap2-solutions

Chap2-solutions - 2.24(Dual effects of transactions on...

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2.24 (Dual effects of transactions on balance sheet equation and journal entries.) a. Transaction Shareholders' Number Assets = Liabilities + Equity (1) +      $60,000     +       $60,000     Subtotal $60,000 = $60,000 (2) +            29,200     +       $29,200                       Subtotal $89,200 = $29,200 + $60,000 (3) + 32,700              5,000     +             27,700                       Subtotal $116,900 = $56,900 + $60,000 (4) + 4,500              4,500                                                  Subtotal $116,900 = $56,900 + $60,000 (5)                              27,700     +             27,700     Subtotal $116,900 = $29,200 + $87,700 (6)            29,200                 29,200                       Total         $87,700
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This note was uploaded on 05/31/2008 for the course MBAC 6080 taught by Professor Vossen during the Spring '08 term at Colorado.

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Chap2-solutions - 2.24(Dual effects of transactions on...

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