Third Estate Inc. buys $3,500 of inventory on May 1 from Gallagher Company on account.
The terms of the purchase were FOB Shipping Point. Third Estate Inc. (the buyer) pays Targus Freight
Company $100 for freight charges on May
Inventory Value Equation
On January 1, 2016, Third Estate had $800 worth of inventory.
During January 2016, Third Estate purchases $200 worth of inventory.
On January 31, 2016, Third Estate performed an inventory count and found that
Chapter 2 Exercise 1
ABC Company buys $100 of supplies for cash.
ABC Company borrows $500 from its local bank by writing a promissory note.
ABC Company receives an $800 cash investment from the owners.
Caterpillar Inc. buys a building for $150,000 on 6/30/2015. By 12/31/2015, the value of the
building has increased to $200,000.
You are the ACCOUNTANT for Third Estate Inc. The Company has recently purchased LAND
for $100,000. The CEO believes that
In the international scene, we have both exports and imports. Think about it:
If we ship our goods/services out of our country, which way does cash flow?
And if we buy goods/services from foreign country, which way does cash flow?
Developing and Transitional Economies
On the global and international scene, therere countries like ourselves and then there are
countries like we were 400 years ago. Think back on what it was in the 1600s. The
population was sparse, persons mainly engage
Several people of our nation are extremely apprehensive about Obamacare and its
effects on our nations future. Unfortunately, many economists fear that it will have a
negative effect on the job market. Obamacare states that any firm that has over fifty fu
Microeconomics and Farming
Before the country we lived in was America, Native Americans roamed and
ruled the lands. Their means of survival were quite different than those of the English
settlers that started in developing our country. However, without th