Look at the accompanying FastTrack, which shows the results for Round1 for a Foundation
industry. Answer the following questions, explaining the reasons and justification for your
1) Which company had the biggest difference between actual and pot
SE No (5) Chapter 2
For each transaction below, prepare journal entries, post to general ledger, prepare trial
balance and financial statements.
Han Kim started a computer programming business; Kim's programming Service, Inc.,
by investing $5,000 in
Deluxe Pool Service, Inc.
As at June 30, 2010
Cash. $ 8,500
Horngren Handout 1: Transaction Analysis
Q2-40 An investment of cash into the business will
a. decrease total liabilities.
b. decrease total assets.
c. have no effect on total assets.
d. increase shareholders' equity.
Q2-41 Purchasing a laptop computer on