Professional Documents
Culture Documents
Transaction Analysis
Short Exercises
(5 min.)
S 2-1
(5 min.)
S 2-2
Chapter 2
Analysis
Transaction
67
Bal.
Cash
31,000
2,000
30,000
(5-10 min.)
S 2-3
(5 min.)
S 2-4
3,000
(5-10 min.)
a.
b.
c.
d.
e.
68
S 2-5
Chapter 2
Analysis
Transaction
69
(10 min.)
S 2-6
Journal
DATE
Jul.
70
DEBIT
15 Cash
Note Payable
Borrowed money from the bank.
34,000
22 Accounts Receivable.
Service Revenue.
Performed service on account.
8,500
28 Cash
Accounts Receivable.
Received cash on account.
6,500
29 Utilities Expense.
Accounts Payable..
Received utility bill.
700
31 Salary Expense
Cash
Paid salary expense.
3,100
CREDIT
34,000
8,500
6,500
700
3,100
S 2-7
(10-15 min.)
Req. 1
Journal
DATE
DEBIT
Supplies..
Accounts Payable
Purchased supplies on account.
2,000
Accounts Payable
Cash
Paid cash on account.
500
CREDIT
2,000
500
Req. 2
Accounts Payable
500
Bal.
2,000
1,500
Req. 3
The business owes $1,500, as shown in the Accounts Payable
account.
Chapter 2
Analysis
Transaction
71
S 2-8
(10-15 min.)
Req. 1
Journal
DATE
DEBIT
Accounts Receivable..
Service Revenue..
Performed service on account.
5,200
Cash.
Accounts Receivable..
Received cash on account.
2,400
CREDIT
5,200
2,400
Req. 2
Bal
.
72
Cash
2,40
0
2,40
0
Accounts Receivable
5,20
2,40
0
0
Bal. 2,80
0
Service Revenue
5,200
Bal
.
5,200
(10 min.)
S 2-9
Old Boardwalk
Trial Balance
December 31, 2010
ACCOUNT
DEBIT CREDIT
Millions
Cash....
$ 6
Other assets..
13
Accounts payable
$ 1
Other liabilities.
5
Stockholders equity..
3
Revenues...
37
Expenses...
27
___
Total.
$46
$46
Old Boardwalks net income: $10 million ($37 $27)
(10 min.)
1. Total assets
S 2-10
Chapter 2
Analysis
Transaction
73
74
(10 min.)
1. Total debits
S 2-11
Difference
2. Total debits
Difference
3. Total debits
Chapter 2
Analysis
Transaction
75
(10 min.)
H
1. Debit
2. Expense
A.
3. Net income
B.
Always a liability
4. Ledger
C.
Revenues Expenses
5. Posting
D.
Grouping of accounts
6. Normal balance
E.
Assets Liabilities
7. Payable
F.
Record of transactions
8. Journal
G.
Always an asset
9. Receivable
H.
76
S 2-12
I.
J.
(5 min.)
Cash
140,000
Accounts Payable
100,000
Total debits
S 2-13
Computer Equipment
100,000
Common Stock
140,000
Chapter 2
Analysis
Transaction
77
Exercises
Group A
(10-15 min.)
TO:
Home Office
FROM:
Store Manager
E 2-14A
$ 26,000*
8,000
60,000
88,000
123,000
LIABILITIES
Note payable
($88,000 + $123,000) $211,000
STOCKHOLDERS EQUITY
Common stock
94,000
Total liabilities and
________
stockholders equity $305,000
Total assets
$305,000
_____
*94,000 8,000 60,000 = 26,000
Cash
78
94,000
60,000
8,000
26,000
(10-15 min.)
E 2-15A
Chapter 2
Analysis
Transaction
79
(10-20 min.)
E 2-16A
Req. 1
Analysis of Transactions
ASSETS
Date
Cash
Accounts
Medical
+ Receivable + Supplies +
Accounts
Land = Payable +
Mar. 6 42,000
9 (25,000)
25,000
12
16,000
15 Not a transaction of the business.
15-31
3,850
3,850
15-31
(900)
(900)
(200)
31
200
(200)
31 18,000
31 (1,100)
Bal.
35,950
3,850
15,800 25,000
80,600
80
LIABILITIES
STOCKHOLDERS EQUITY
Note
Common
Payable +
Stock +
Retained
Earnings
42,000
Type of Stockholders
Equity Transaction
Issued stock
16,000
7,700
(900)
(900)
(200)
18,000
(1,100)
14,900
18,000
80,600
42,000
5,700
Service revenue
Salary expense
Rent expense
Utilities expense
(continued)
E 2-16A
Req. 2
a. $80,600
b. $3,850
c. $32,900 ($14,900 + $18,000)
d. $47,700 ($80,600 $32,900, or $42,000 + $5,700)
e. $5,700 (Revenue, $7,700 minus total expenses of $2,000,
equals net income, $5,700.)
Chapter 2
Analysis
Transaction
81
(10-15 min.)
E 2-17A
Journal
DATE
Mar.
12
15
DEBIT
Cash..
Common Stock.
Issued stock to owner.
42,000
Land...
Cash.
Purchased land.
25,000
Medical Supplies
Accounts Payable
Purchased supplies on account.
16,000
42,000
25,000
16,000
15-31 Cash..
3,850
Accounts Receivable
3,850
Service Revenue...
Performed service for cash and on account.
15-31 Salary Expense..
Rent Expense..
Utilities Expense
Cash.
Paid expenses.
900
900
200
31
Cash..
Medical Supplies..
Sold supplies.
200
Cash..
Note Payable..
Borrowed money.
18,000
31
82
CREDIT
7,700
2,000
200
18,000
31
Accounts Payable.
Cash.
Paid on account.
1,100
1,100
(10-20 min.)
E 2-18A
Journal
DATE
DEBIT
Apr. 1 Cash
Common Stock...
Issued common stock to owner.
19,100
2 Office Supplies
Accounts Payable..
Purchased office supplies on account.
300
4 Land
Cash..
Paid cash for land.
14,700
6 Cash
Service Revenue
Performed services for cash.
2,700
9 Accounts Payable...
Cash..
Paid cash on account.
200
17 Accounts Receivable.
Service Revenue
Performed service on account.
1,000
23 Cash
Accounts Receivable
Received cash on account.
200
Chapter 2
Analysis
CREDIT
19,100
300
14,700
2,700
200
1,000
200
Transaction
83
30 Salary Expense
Rent Expense...
Cash..
Paid cash expenses.
84
1,300
500
1,800
(20-30 min.)
E 2-19A
Req. 1
Apr. 1
6
23
Bal.
Cash
19,100 Apr. 4 14,700
2,700
9
200
200
30 1,800
5,300
Office Supplies
Apr. 2
300
Bal.
300
Accounts Payable
Apr. 9
200 Apr. 2
Bal.
Accounts Receivable
Apr. 17 1,000 Apr. 23
200
Bal.
800
Apr.
Bal.
300
100
Service Revenue
Apr. 6 2,700
17 1,000
Bal. 3,700
Land
4 14,700
14,700
Common Stock
Apr. 1 19,100
Bal.
19,100
Salary Expense
Apr. 30 1,300
Bal.
1,300
Rent Expense
Apr. 30
500
Bal.
500
Chapter 2
Analysis
Transaction
85
(continued)
E 2-19A
Req. 2
Harris Tree Cellular, Inc.
Trial Balance
April 30, 2010
ACCOUNT
DEBIT
Cash... $ 5,300
Accounts receivable..
800
Office supplies
300
Land... 14,700
Accounts payable..
Common stock
Service revenue..
Salary expense
1,300
Rent expense...
500
Total... $22,900
CREDIT
100
19,100
3,700
$22,900
Req. 3
Total assets ($5,300 + $800 + 300 + $14,700).. $21,100
Total liabilities.
(100)
Total stockholders equity ($19,100 + $1,900)21,000
86
(10-15 min.)
E 2-20A
Journal
DATE
1. Cash..
Common Stock..
Issued common stock.
DEBIT
10,200
10,200
2. Cash..
6,900
Note Payable..
Borrowed money; signed note payable.
3. Land..
Cash..
Note Payable..
Purchased land by paying cash
and signing a note payable.
30,000
4. Supplies
Accounts Payable.
Purchased supplies on account.
500
5. Cash..
Supplies...
Sold supplies for cash.
150
6. Equipment
Cash..
Paid cash for equipment.
5,100
7. Accounts Payable..
100
Chapter 2
Analysis
CREDIT
6,900
6,000
24000
500
150
5,100
Transaction
87
Cash..
Paid cash on account.
Cash balance = $6,050 ($10,200 + $6,900 $6,000 + $150 $5,100 $100)
Company owes $31,300 ($6,900 + $24,000 + $500 $100)
88
100
(10-20 min.)
E 2-21A
Req. 1
Deluxe Pool Service, Inc.
Trial Balance
June 30, 2010
ACCOUNT
DEBIT
Cash... $ 8,500
Accounts receivable..
15,900
Land...
29,800
Accounts payable..
Note payable
Common stock
Retained earnings..
Dividends..
6,100
Service revenue..
Salary expense
8,200
Utilities expense.
2,100
Delivery expense
700
Total... $71,300
Chapter 2
Analysis
CREDIT
$ 4,400
10,500
8,400
25,600
22,400
$71,300
Transaction
89
(continued)
E 2-21A
Req. 2
Deluxe Pool Service, Inc.
Income Statement
Month Ended June 30, 2010
Service revenue...
Salary expense
$8,200
Utilities expense..
2,100
Delivery expense.
700
Total expenses.
Net income
90
$22,400
11,000
$11,400
(15-25 min.)
Carver, Inc.
Trial Balance
September 30, 2010
ACCOUNT
DEBIT
Cash... $ 4,900*
Accounts receivable.. 12,700*
Inventory... 16,600
Supplies
200
Land... 52,000
Accounts payable..
Common stock
Sales revenue..
Salary expense
1,700
Insurance expense.
3,000*
Rent expense...
1,100
Utilities expense.
1,400*
Total... $93,600
E 2-22A
CREDIT
$15,100*
48,000*
30,500
_______
$93,600
_____
*Explanations:
Cash: $4,500 + $400 = $4,900
Accounts Receivable: $13,100 $400 = $12,700
Accounts Payable: $11,900 + $3,000 $300 + $500 = $15,100
Common Stock: $47,500 + $500 = $48,000
Insurance Expense: $0 + $3,000 = $3,000
Utilities Expense: $900 + $500 = 1,400
Chapter 2
Analysis
Transaction
91
(5-15 min.)
(a)
Bal.
(c)
Bal.
Cash
12,000 (b)
(d)
(e)
(g)
5,800
Office Supplies
700
700
Accounts Payable
300 (c)
Bal.
(e)
(g)
Bal.
Dividends
2,900
2,900
(d)
Bal.
Salary Expense
2,000
2,000
92
1,000
2,000
300
2,900
Accounts Receivable
(f)
8,100
Bal.
8,100
(a)
Bal.
Office Furniture
8,600
8,600
Common Stock
(a)
20,600
Bal.
20,600
700
400
E 2-23A
Service Revenue
(f)
8,100
Bal.
8,100
(b)
Bal.
Rent Expense
1,000
1,000
Chapter 2
Analysis
Transaction
93
(10-20 min.)
E 2-24A
Req. 1
Linda Oxford, Attorney
Trial Balance
May 31, 2010
ACCOUNT
DEBIT
Cash... $ 5,800
Accounts receivable..
8,100
Office supplies
700
Office furniture
8,600
Accounts payable..
Common stock
Dividends..
2,900
Service revenue..
Salary expense
2,000
Rent expense..
1,000
Total... $29,100
CREDIT
400
20,600
8,100
$29,100
Req. 2
The business performed well during May. The result of
operations was net income of $5,100, as shown by the income
statement accounts:
Service revenue. $ 8,100
Salary expense.. $2,000
Rent expense. 1,000
94
Chapter 2
Analysis
Transaction
95
Exercises
Group B
(10-15 min.)
TO:
Home Office
FROM:
Store Manager
E 2-25B
$ 15,000*
13,000
62,000
91,000
120,000
LIABILITIES
Note payable
($91,000 + $120,000) $211,000
STOCKHOLDERS EQUITY
Common stock
90,000
Total liabilities and
________
stockholders equity $301,000
Total assets
$301,000
_____
*90,000 13,000 62,000 = 15,000
Cash
90,000
62,000
96
13,000
15,000
(10-15 min.)
E 2-26B
Chapter 2
Analysis
Transaction
97
(10-20 min.)
E 2-27B
Req. 1
Analysis of Transactions
ASSETS
Date
Cash
Accounts
Medical
+ Receivable + Supplies +
Mar. 6 44,000
9 (31,000)
31,000
12
1,700
15 Not a transaction of the business.
15-31
3,800
3,800
15-31
(800)
(800)
(300)
31
400
(400)
31 16,000
31
(700)
Bal.
30,600
3,800
1,300
66,700
98
LIABILITIES
Accounts
Land = Payable +
31,000
STOCKHOLDERS EQUITY
Note
Common
Payable +
Stock +
Retained
Earnings
44,000
Type of Stockholders
Equity Transaction
Issued stock
1,700
7,600
(800)
(800)
(300)
16,000
(700)
1,000
16,000
66,700
44,000
5,700
Service revenue
Salary expense
Rent expense
Utilities expense
Chapter 2
Transaction Analysis
99
(continued)
E2-27B
Req. 2
a. $66,700
b. $3,800
c. $17,000 ($1,000 + $16,000)
d. $49,700 ($66,700 $17,000, or $44,000 + $5,700)
e. $5,700 (Revenue, $7,600 minus total expenses of $1,900,
equals net income, $5,700.)
100
(10-15 min.)
E 2-28B
Journal
DATE
Mar.
12
15
DEBIT
Cash..
Common Stock.
Issued stock to owner.
44,000
Land...
Cash.
Purchased land.
31,000
Medical Supplies
Accounts Payable
Purchased supplies on account.
1,700
44,000
31,000
1,700
15-31 Cash..
3,800
Accounts Receivable
3,800
Service Revenue...
Performed service for cash and on account.
15-31 Salary Expense..
Rent Expense..
Utilities Expense
Cash.
Paid expenses.
800
800
300
31
Cash..
Medical Supplies..
Sold supplies.
400
Cash..
Note Payable..
16,000
31
Chapter 2
Analysis
CREDIT
7,600
1,900
400
16,000
Transaction
101
Borrowed money.
31
Accounts Payable.
Cash.
Paid on account.
700
700
(10-20 min.)
E 2-29B
Journal
DATE
DEBIT
Apr. 1 Cash
Common Stock...
Issued common stock to owner.
19,600
2 Office Supplies
Accounts Payable..
Purchased office supplies on account.
900
4 Land
Cash..
Paid cash for land.
14,600
6 Cash
Service Revenue
Performed services for cash.
2,500
9 Accounts Payable...
Cash..
Paid cash on account.
200
17 Accounts Receivable.
Service Revenue
Performed service on account.
1,200
23 Cash
Accounts Receivable
Received cash on account.
900
102
CREDIT
19,600
900
14,600
2,500
200
1,200
900
30 Salary Expense
Rent Expense...
Cash..
Paid cash expenses.
Chapter 2
Analysis
1,900
1,400
3,300
Transaction
103
(20-30 min.)
E 2-30B
Req. 1
Apr. 1
6
23
Bal.
Cash
19,600 Apr. 4 14,600
2,500
9
200
900
30 3,300
4,900
Office Supplies
Apr. 2
900
Bal.
900
Accounts Payable
Apr. 9
200 Apr. 2
Bal.
Apr.
Bal.
900
700
Service Revenue
Apr. 6 2,500
17 1,200
Bal. 3,700
Rent Expense
Apr. 30 1,400
Bal.
1,400
104
Accounts Receivable
Apr. 17 1,200 Apr. 23
900
Bal.
300
Land
4 14,600
14,600
Common Stock
Apr. 1 19,600
Bal.
19,600
Salary Expense
Apr. 30 1,900
Bal.
1,900
Chapter 2
Analysis
Transaction
105
(continued)
E 2-30B
Req. 2
Green Tree Cellular, Inc.
Trial Balance
April 30, 2010
ACCOUNT
DEBIT
Cash... $ 4,900
Accounts receivable..
300
Office supplies
900
Land... 14,600
Accounts payable..
Common stock
Service revenue..
Salary expense
1,900
Rent expense...
1,400
Total... $24,000
CREDIT
700
19,600
3,700
24,000
Req. 3
Total assets ($4,900 + $300 + 900 + $14,600).. $20,700
Total liabilities.
(700)
Total stockholders equity ($19,600 + $400) $20,000
106
Chapter 2
Analysis
Transaction
107
(10-15 min.)
E 2-31B
Journal
DATE
1. Cash..
Common Stock..
Issued common stock.
DEBIT
9,700
9,700
2. Cash..
6,700
Note Payable..
Borrowed money; signed note payable.
108
3. Land..
Cash..
Note Payable..
Purchased land by paying cash
and signing a note payable.
30,000
4. Supplies
Accounts Payable.
Purchased supplies on account.
500
5. Cash..
Supplies...
Sold supplies for cash.
80
6. Equipment
Cash..
Paid cash for equipment.
6,000
7. Accounts Payable..
90
CREDIT
6,700
5,000
25000
500
80
6,000
Cash..
Paid cash on account.
90
Chapter 2
Analysis
Transaction
109
(10-20 min.)
E 2-32B
Req. 1
Grand Pool Service, Inc.
Trial Balance
June 30, 2010
ACCOUNT
DEBIT
Cash...
9,400
Accounts receivable..
15,300
Land...
29,400
Accounts payable..
Note payable
Common stock
Retained earnings..
Dividends..
6,300
Service revenue..
Salary expense
8,200
Utilities expense.
1,600
Delivery expense
200
Total... $70,400
CREDIT
$ 4,500
10,500
8,000
24,600
22,800
$70,400
Req. 2
Grand Pool Service, Inc.
Income Statement
Month Ended June 30, 2010
Service revenue...
Salary expense
$8,200
Utilities expense..
1,600
Delivery expense.
200
Total expenses.
110
$22,800
10,000
Net income
$12,800
(15-25 min.)
Farris, Inc.
Trial Balance
June 30, 2010
ACCOUNT
DEBIT
Cash... $ 4,300*
Accounts receivable.. 13,100*
Inventory... 16,500
Supplies
700
Land... 53,000
Accounts payable..
Common stock
Sales revenue..
Salary expense
2,200
Insurance expense.
3,300*
Rent expense...
600
Utilities expense.
600*
Total... $94,300
E 2-33B
CREDIT
$14,500*
47,900*
31,900
_______
$94,300
_____
*Explanations:
Cash: $4,100 + $200 = $4,300
Accounts Receivable: $13,300 $200 = $13,100
Accounts Payable: $12,400 + $2,000 $200 + $300 = $14,500
Common Stock: $47,800 + $100 = $47,900
Insurance Expense: $0 + $3,300 = $3,300
Utilities Expense: $300 + $300 = 600
Chapter 2
Analysis
Transaction
111
112
(5-15 min.)
(a)
Bal.
(c)
Bal.
(e)
Cash
11,000 (b)
(d)
(e)
(g)
5,200
1,200
2,200
300
2,100
Office Supplies
700
700
Accounts Payable
300 (c)
Bal.
(g)
Bal.
Dividends
2,100
2,100
(d)
Bal.
Salary Expense
2,200
2,200
Accounts Receivable
(f)
8,300
Bal.
8,300
(a)
Bal.
Office Furniture
9,100
9,100
Common Stock
(a)
20,100
Bal.
20,100
700
400
Service Revenue
(f)
8,300
Bal.
8,300
(b)
Bal.
Rent Expense
1,200
1,200
Chapter 2
Analysis
E 2-34B
Transaction
113
(10-20 min.)
E 2-35B
Req. 1
Linda Conway, Attorney
Trial Balance
January 31, 2010
ACCOUNT
DEBIT
Cash... $ 5,200
Accounts receivable..
8,300
Office supplies
700
Office furniture
9,100
Accounts payable..
Common stock
Dividends..
2,100
Service revenue..
Salary expense
2,200
Rent expense..
1,200
Total... $28,800
CREDIT
400
20,100
8,300
$28,800
Req. 2
The business performed well during January. The result of
operations was net income of $4,900, as shown by the income
statement accounts:
114
Chapter 2
Analysis
Transaction
115
Serial Exercise
(20-30 min.)
E 2-36
Reqs. 1 and 3
Mar. 2
9
Bal.
Cash
7,000 Mar. 2
1,200
3
12
4,900
Mar. 5
Supplies
500
Mar. 4
Furniture
7,500
600
2,400
300
Common Stock
Mar. 2 7,000
Service Revenue
Mar. 9 1,200
18 2,100
Bal.
3,300
116
Accounts Receivable
Mar. 18 2,100
Mar. 3
Equipment
2,400
Accounts Payable
Mar. 4 7,500
5
500
Bal.
8,000
Dividends
Rent Expense
Mar. 2
600
Utilities Expense
Mar. 12
300
(continued)
E 2-36
Req. 2
Journal
DATE
DEBIT
Mar. 2 Cash..
Common Stock..
7,000
2 Rent Expense.
Cash.
600
3 Equipment...
Cash.
2,400
4 Furniture..
Accounts Payable.
7,500
5 Supplies...
Accounts Payable.
500
9 Cash..
Service Revenue...
1,200
12 Utilities Expense
Cash.
300
18 Accounts Receivable
2,100
Chapter 2
Analysis
CREDIT
7,000
600
2,400
7,500
500
1,200
300
Transaction
117
Service Revenue...
118
2,100
(continued)
E 2-36
Req. 3
Jerome Smith, Certified Public Accountant, P.C.
Trial Balance
March 18, 2010
ACCOUNT
DEBIT
CREDIT
Cash... $ 4,900
Accounts receivable..
2,100
Supplies
500
Equipment
2,400
Furniture...
7,500
Accounts payable..
$ 8,000
Common stock
7,000
Dividends..
Service revenue..
3,300
Rent expense..
600
Utilities expense.
300
Salary expense
Total...
$18,300
$18,300
Chapter 2
Analysis
Transaction
119
Challenge Exercises
(20-40 min.)
E 2-37
Sept. 30 Bal.
Oct. receipts
Oct. 31 Bal.
Cash
11,000
83,000 Oct. payments
6,000
X = $88,000
Sept 30 Bal.
Oct. sales
on account
Mar. 31 Bal.
Accounts Receivable
28,000
47,000 Oct. collections
26,000
$28,000 + $47,000 X
X = $49,000
= $26,000
X = $49,000
Mar. 31 Bal.
23,000
Chapter 2
Analysis
Transaction
121
(20-30 min.)
E 2-38
Req. 1
Circle 360, Inc.
Trial Balance
October 31, 2010
Cash...
Accounts receivable..
Land...
Accounts payable..
Note payable
Common stock
Retained earnings..
Service revenue..
Salary expense
Advertising expense.
Totals.
$ 4,400
6,800
34,000
$ 6,300
5,400
20,700
7,800
9,000
3,200
1,000 _______
$49,400 $49,200
Out of balance
by $200
122
(continued)
E 2-38
Req. 2
a. Total assets
_____
* $6,800 $200 = $6,600 (Req. 1)
Chapter 2
Analysis
Transaction
123
(10-15 min.)
Nashua Co.:
Income statement
Medical expense..
Balance sheet
Cash
Accounts payable
Ditka Hospital:
Income statement
Service revenue..
Balance sheet
Cash
Accounts receivable..
E 2-39
September
$46,000
October
$ -0-
Sept. 30
$57,000
46,000
Oct. 31
$23,000*
12,000**
September
$46,000
October
$ -0-
Sept. 30
$ -046,000
Oct 31
$34,000
12,000**
Explanation:
Nashuas expense is Ditkas revenue.
Nashuas cash payment is Ditkas cash receipt.
Nashuas account payable is Ditkas account receivable.
__________
*$57,000 $34,000 = $23,000
**$46,000 $34,000 = $12,000
124
Quiz
Q2-40
Q2-41
Q2-42
Q2-43
Q2-44
Q2-45
Q2-46
Q2-47
Q2-48
Q2-49
Q2-50
Q2-51
Q2-52
Q2-53
Q2-54
Q2-55
Q2-56
Q2-57
Q2-58
Q2-59
d
d
d
d
c
a
d
d
c
a
d
d
b
a
b
c
d
a
a
c
Chapter 2
Analysis
Transaction
125
Problems
Group A
(15-30 min.)
P 2-60A
Dear Rhonda,
This trial balance lists the accounts of the company, along
with their balances at December 31, 2010. The trial balance
provides the data for computing total assets, total liabilities,
and net income or net loss.
Amusement Specialties
a. Total assets
b. Total liabilities =
c. Net income
$61,000 $8,000)
126
(45-60 min.)
P 2-61A
Req. 1
Analysis of Transactions
ASSETS
Cash
Bal.
a)
b)
c)
d)
e)
f)
g)
h)
Bal.
Accounts
+ Receivable + Supplies +
1,150
9,200
6,700
(4,500)
1,350
Accounts
= Payable +
Land
11,900
(1,100)
(1,000)
(1,500)
9,650
7,600
STOCKHOLDERS EQUITY
Common
Stock +
Retained
Earnings
4,400
9,200
2,400
6,700
(700)
2,900
____
3,550
____
600
Type of Stockholders
Equity Transaction
Issued stock
Service revenue
(4,500)
600
600
700
LIABILITIES
11,900
3,700
$25,700
13,600
2,900
(1,100)
(1,000)
(1,500)
8,400
Service revenue
Rent expense
Advertising expense
Dividends
$25,700
Chapter 2
Transaction Analysis
127
128
(continued)
P 2-61A
Req. 2
Mason Resources, Inc.
Income Statement
Month Ended May 31, 2010
Revenues:
Service revenue ($6,700 + $2,900)...
Expenses:
Rent expense
Advertising expense...
Total expenses.
Net income.
$9,600
$1,100
1,000
2,100
$7,500
Req. 3
Mason Resources, Inc.
Statement of Retained Earnings
Month Ended May 31, 2010
Retained earnings, May 1, 2010..............
Add: Net income..
Less: Dividends.
Retained earnings, May 31, 2010..
Chapter 2
Analysis
$ 2,400
7,500
9,900
(1,500)
$ 8,400
Transaction
129
(continued)
P 2-61A
Req. 4
Mason Resources, Inc.
Balance Sheet
May 31, 2010
ASSETS
LIABILITIES
Cash.
$9,650 Accounts payable $ 3,700
Accounts receivable
3,550
STOCKHOLDERS
Supplies..
600
EQUITY
Land.
11,900 Common stock.
13,600
Retained earnings
8,400
Total stockholders equity. 22,000
Total liabilities and
Total assets $25,700
stockholders' equity.. $25,700
130
(30-40 min.)
P 2-62A
Req. 1
Journal
a.
b.
c.
d.
e.
f.
g.
h.
ACCOUNT TITLES
DEBIT
Cash.
Common Stock.
9,200
Cash.
Service Revenue..
6,700
Accounts Payable
Cash
4,500
Supplies..
Accounts Payable
600
Cash.
Accounts Receivable..
700
Accounts Receivable..
Service Revenue..
2,900
Rent Expense
Advertising Expense...
Cash
1,100
1,000
Dividends...
Cash
1,500
9,200
6,700
4,500
600
700
2,900
2,100
Chapter 2
Analysis
CREDIT
1,500
Transaction
131
(continued)
P 2-62A
Reqs. 2 and 3
Cash
1,150
4,50
0
9,200 2,10
0
6,700 1,50
0
700
9,650
Accounts
Payable
4,500 7,60
0
600
3,70
0
Service
Revenue
6,70
0
2,90
0
9,60
132
Accounts
Receivable
1,350
700
Supplies
600
Land
11,90
0
2,900
3,550
Common
Stock
4,400
Retained
Earnings
2,400
9,200
13,600
Rent Expense
1,100
Advertising
Expense
1,000
Dividends
1,500
Chapter 2
Analysis
Transaction
133
(40-50 min.)
Req. 1
Classification of Transactions
Nov. 4
10
11
12
18
21
25
30
134
P 2-63A
(continued)
P 2-63A
Req. 2
Analysis of Transactions
ASSETS
Date
LIABILITIES
Accounts
Office
Accounts
Cash + Receivable+ Supplies + Equipment = Payable +
Nov. 4*
5
57,000
6
(600)
7 (12,000)
10*
11*
12*
18
21
(4,000)
25
(1,300)
30
(1,900)
Bal.
37,200
STOCKHOLDERS EQUITY
Common
Stock +
57,000
Issued stock
600
20,000
8,000
3,500
3,500
Service revenue
(4,000)
3,500
___
600
20,000
$61,300
4,000
57,000
(1,300)
(1,900)
300
Rent expense
Dividends
$61,300
_____
Chapter 2
Transaction Analysis
135
136
(continued)
P 2-63A
Req. 3
Journal
DATE
Nov.
DEBIT
5 Cash.. 57,000
Common Stock..
Issued stock to owner.
6 Supplies...
Cash.
Purchased supplies.
600
18 Accounts Receivable
Service Revenue...
Performed service on account.
3,500
21 Accounts Payable.
Cash.
Paid on account.
4,000
25 Rent Expense.
Cash.
Paid rent.
1,300
Chapter 2
57,000
600
Analysis
CREDIT
12,000
8,000
3,500
4,000
1,300
Transaction
137
30 Dividends.
Cash.
Paid dividend.
138
1,900
1,900
(15-20 min.)
P 2-64A
Req. 1
Journal
DATE
Dec.
ACCOUNT TITLES
DEBIT
CREDIT
1 Cash.. 26,000
Common Stock..
26,000
5 Rent Expense.
Cash..
1,100
1,100
9 Land.. 38,500
Cash..
Notes Payable....
10 Supplies
Accounts Payable.
1,700
19 Accounts Payable.
Cash..
600
1,700
600
22 Cash.. 20,000
Notes Payable....
20,000
31 Cash.. 12,000
Accounts Receivable... 8,000
Service Revenue
20,000
31 Salary Expense..
Advertising Expense
Utilities Expense....
Chapter 2
Analysis
8,500
30,000
2,400
1,500
1,400
Transaction
139
Cash..
31 Dividends.
Cash..
140
5,300
6,500
6,500
(continued)
P 2-64A
Req. 2
Cash
26,000
20,000
12,000
1,100
8,500
600
5,300
6,500
36,000
Accounts Payable
600
1,700
1,100
Notes Payable
30,000
20,000
50,000
Req. 3
Cash: $36,000
Total amount owed: $51,100 ($1,100 + $50,000)
Chapter 2
Analysis
Transaction
141
142
(50-60 min.)
P 2-65A
Req. 1
Journal
DATE
Jan.
ACCOUNT TITLES
DEBIT
2 Cash 39,000
Common Stock
3 Supplies.
Equipment.
Accounts Payable...
200
3,100
4 Cash
Service Revenue.
1,600
7 Land
Cash...
27,000
11 Accounts
Receivable..
Service Revenue.
900
16 Accounts Payable
Cash
3,100
17 Utilities Expense..
Cash
170
18 Cash
Accounts Receivable.
450
39,000
3,300
1,600
Chapter 2
Analysis
CREDIT
27,000
900
3,100
170
450
Transaction
143
144
(continued)
P 2-65A
Req. 1
Journal
DATE
ACCOUNT TITLES
DEBIT
190
29 Cash..
Service Revenue
1,400
31 Salary Expense..
Cash..
2,400
31 Dividends.
Cash..
3,000
190
1,400
2,400
Chapter 2
Analysis
CREDIT
3,000
Transaction
145
(continued)
P 2-65A
Req. 2
Bal.
Cash
39,000 Jan. 7 27,000
1,600
16 3,100
450
17
170
1,400
22
190
31 2,400
31 3,000
6,590
Jan. 3
Bal.
Equipment
3,100
3,100
Jan. 2
4
18
29
Accounts Payable
Jan. 16 3,100 Jan. 3
3,300
Bal.
200
Accounts Receivable
Jan. 11
900 Jan. 18 450
Bal.
450
Jan. 3
Bal.
Jan. 7
Bal.
Supplies
200
200
Land
27,000
27,000
Common Stock
Jan. 2 39,000
Bal.
39,000
Dividends
Jan. 31 3,000
3,000
Service Revenue
Jan. 4 1,600
11
900
29 1,400
Bal.
3,900
Salary Expense
Jan. 31 2,400
Bal.
2,400
Utilities Expense
146
Jan. 17
22
Bal.
170
190
360
Chapter 2
Analysis
Transaction
147
(continued)
P 2-65A
Req. 3
Simmons Heating and Air Conditioning, Inc.
Trial Balance
January 31, 2009
ACCOUNT
DEBIT
CREDIT
Cash... $ 6,590
Accounts receivable..
450
Supplies
200
Equipment
3,100
Land...
27,000
Accounts payable..
$ 200
Common stock
39,000
Dividends..
3,000
Service revenue..
3,900
Salary expense
2,400
Utilities expense.
360
Total... $43,100
$43,100
Req. 4
Total resources (assets)
$360)
Chapter 2
Analysis
Transaction
149
(40-50 min.)
P 2-66A
Reqs. 1 and 2
(a)
(b)
(f)
(j)
Bal.
Cash
28,000 (c)
37,300 (e)
1,600 (h)
1,200 (k)
30,600
(d)
Bal.
Supplies
500
500
(a)
Bal.
Building
52,000
52,000
33,000
2,500
100
1,900
Note Payable
(b)
37,300
Bal.
37,300
Accounts Receivable
(g)
3,200 (j)
1,200
Bal.
2,000
(c)
Bal.
(h)
Music Equipment
33,000
33,000
Accounts Payable
100 (d)
500
(i)
800
Bal.
1,200
Common Stock
(a)
80,000
Bal.
80,000
Service Revenue
(f)
1,600
(g)
3,200
Bal.
4,800
150
Chapter 2
Analysis
Transaction
151
(continued)
(e)
Bal.
Salary Expense
2,500
2,500
Advertising Expense
(k)
700
Bal.
700
152
P 2-66A
(k)
Bal.
Rent Expense
1,200
1,200
(i)
Bal.
Utilities Expense
800
800
(continued)
P 2-66A
Req. 3
Stein Services Corporation
Trial Balance
November 30, 2010
ACCOUNT
DEBIT
Cash... $ 30,600
Accounts receivable..
2,000
Supplies
500
Music equipment...............
33,000
Building.
52,000
Accounts payable..
Note payable
Common stock
Service revenue..
Salary expense
2,500
Rent expense...
1,200
Advertising expense..
700
Utilities expense.
800
Total... $123,300
Chapter 2
Analysis
CREDIT
1,200
37,300
80,000
4,800
$123,300
Transaction
153
Problems
Group B
(15-30 min.)
P 2-67B
Dear Friend,
This trial balance lists the accounts of the company, along
with their balances at December 31, 2010 The trial balance
provides the data to prepare a balance sheet and an income
statement.
154
Chapter 2
Analysis
Transaction
155
(45-60 min.)
P 2-68B
Req. 1
Analysis of Transactions
ASSETS
Cash
Bal.
a)
b)
c)
d)
e)
f)
g)
i)
Bal.
1,450
8,600
6,500
(4,700)
Accounts
+ Receivable + Supplies +
1,650
11,500
(900)
(800)
(2,300)
8,050
7,800
STOCKHOLDERS EQUITY
Common
Stock +
Retained
Earnings
4,000
8,600
2,800
(200)
2,700
4,150
___
600
Type of Stockholders
Equity Transaction
Issued stock
Service revenue
(4,700)
600
600
200
Accounts
= Payable +
6,500
$24,300
156
Land
LIABILITIES
11,500
3,700
12,600
$24,300
2,700
(900)
(800)
(2,300)
8,000
Service revenue
Rent expense
Advertising expense
Dividends
(continued)
P 2-68B
Req. 2
Rodriguez Resources, Inc.
Income Statement
Month Ended May 31, 2010
Revenues:
Service revenue ($6,500 + $2,700).
Expenses:
Rent expense...
Advertising expense..
Total expenses
Net income
9,200
$900
800
1,700
$7,500
Req. 3
Rodriguez Resources, Inc.
Statement of Retained Earnings
Month Ended May 31, 2010
Retained earnings, May 1, 2010
Add: Net income
Less: Dividends..
Retained earnings, May 31, 2010.
Chapter 2
Analysis
$2,800
7,500
10,300
(2,300)
$8,000
Transaction
157
(continued)
P 2-68B
Req. 4
Rodriguez Resources, Inc.
Balance Sheet
May 31, 2010
ASSETS
Cash.
Accounts receivable
Supplies..
Land.
$8,050
4,150
600
11,500
Total assets...
$24,300
158
LIABILITIES
Accounts payable. $ 3,700
STOCKHOLDERS
EQUITY
Common stock..
12,600
Retained earnings....
8,000
Total stockholders equity.
20,800
Total liabilities and
stockholders' equity... $24,300
(30-40 min.)
P 2-69B
Req. 1
Journal
ACCOUNT TITLES AND EXPLANATION
a. Cash.
Common Stock.
8,600
b. Cash
Service Revenue..
6,500
c. Accounts Payable ..
Cash
4,700
d. Supplies
Accounts Payable..
600
e. Cash.
Accounts Receivable.
200
f.
6,500
4,700
600
200
2,700
g. Rent Expense
Advertising Expense..
Cash
900
800
Dividends...
Cash
Chapter 2
CREDIT
8,600
Accounts Receivable..
Service Revenue..
i.
Analysis
DEBIT
2,700
1,700
2,300
2,300
Transaction
159
160
(continued)
P 2-69B
Reqs. 2 and 3
Cash
1,450 4,70
0
8,600
900
6,500
800
200 2,30
0
Accounts
Receivable
1,650
200
Supplies
600
Land
11,50
0
2,700
4,150
8,050
Accounts
Payable
4,70 7,80
0
0
600
3,70
0
Service
Revenue
6,50
0
2,70
0
Common
Stock
4,000
Retained
Earnings
2,800
8,600
12,600
Rent Expense
900
Advertising
Expense
800
Chapter 2
Analysis
Dividends
2,300
Transaction
161
9,20
0
162
(40-50 min.)
P 2-70B
Req. 1
Classification of Transactions
Nov
10
11
12
18
21
25
30
Chapter 2
Analysis
Transaction
163
(continued)
P 2-70B
Req. 2
Analysis of Transactions
ASSETS
Cash
+
Date
Nov. 4*
5
59,000
6
(500)
7 (12,000)
10*
11*
12*
18
21
(4,250)
25
(500)
30
(1,700)
Bal.
40,050
= LIABILITIES
Accounts
Office
Accounts
Receivable + Supplies + Equipment= Payable +
STOCKHOLDERS EQUITY
Common
Retained
Stock + Earnings
59,000
Type of Stockholders
Equity Transaction
Issued stock
500
20,500
8,500
3,000
3,000
Service revenue
(4,250)
3,000
___
500
$64,050
_____
164
20,500
4,250
59,000
$64,050
Chapter 2
Transaction Analysis
165
(continued)
P 2-70B
Req. 3
Journal
DATE
DEBIT
CREDIT
59,000
7 Supplies...
Cash.
Purchased supplies.
500
500
166
23 Accounts Receivable
Service Revenue...
Performed service on account.
3,000
29 Accounts Payable.
Cash.
Paid on account.
4,250
30 Rent Expense.
Cash.
Paid rent.
500
12,000
8,500
3,000
4,250
500
31 Dividends.
Cash.
Paid dividend.
Chapter 2
Transaction Analysis
1,700
1,700
167
(15-20 min.)
P 2-71B
Req. 1
Journal
DATE
Dec
ACCOUNT TITLES
DEBIT
CREDIT
1 Cash.. 28,000
Common Stock..
28,000
5 Rent Expense.
Cash
2,000
2,000
9 Land.. 44,500
Cash.
Notes Payable
10 Supplies...
Accounts Payable.
1,700
19 Accounts Payable.
Cash.
800
1,700
800
22 Cash. 18,500
Notes Payable..
18,500
31 Cash. 14,500
Accounts Receivable..
4,500
Service Revenue.
19,000
31 Salary Expense..
Advertising Expense
Cash.
168
11,500
33,000
2,100
1,000
3,100
30 Dividends
Cash.
2,000
2,000
(continued)
P 2-71B
Req. 2
Cash
28,000
18,500
14,500
2,000
11,500
800
2,100
1,000
2,000
41,600
Accounts Payable
800
1,700
900
Notes Payable
33,000
18,500
51,500
Req. 3
Chapter 2
Transaction Analysis
169
Cash: $41,600
Total amount owed: $52,400 ($900 + $51,500)
170
(50-60 min.)
P 2-72B
Req. 1
Journal
DATE
Jan.
ACCOUNT TITLES
DEBIT
2 Cash. 33,000
Common Stock.
3 Supplies..
Equipment..
Accounts Payable
400
2,900
4 Cash.
Service Revenue..
1,700
7 Land.
Cash
22,000
11 Accounts Receivable..
Service Revenue..
1,100
16 Accounts Payable
Cash
2,900
17 Utilities Expense..
Cash
130
18 Cash.
Accounts Receivable..
550
Chapter 2
Transaction Analysis
CREDIT
33,000
3.300
1,700
22,000
1,100
2,900
1300
550
171
(continued)
P 2-72B
Req. 1
Journal
DATE
ACCOUNT TITLES
DEBIT
150
29 Cash
Service Revenue.
1,100
31 Salary Expense
Cash...
2,300
31 Dividends..
Cash...
2,900
172
CREDIT
150
1,100
2,300
2,900
(continued)
P 2-72B
Req. 2
Bal.
Cash
33,000 Jan. 7 22,000
1,700
16 2,900
550
17
130
1,100
22
150
31 2,300
31 2,900
5,970
Jan. 3
Bal.
Equipment
2,900
2,900
Jan. 2
4
18
29
Accounts Receivable
Jan. 11 1,100 Jan. 18 550
Bal.
550
Sept. 3
Bal.
Jan. 7
Bal.
Accounts Payable
Jan. 16 2,900 Jan.3 3,300
Bal.
400
Jan. 31
Bal.
Dividends
2,900
2,900
Chapter 2
Supplies
400
400
Land
22,000
22,000
Common Stock
Jan. 2 33,000
Bal.
33,000
Service Revenue
Jan. 4
11
29
Bal.
Transaction Analysis
1,700
1,100
1,100
3,900
173
174
(continued)
P 2-72B
Req. 2
Salary Expense
Jan. 31 2,300
Bal.
2,300
Utilities Expense
Jan. 17
130
22
150
Bal.
280
Chapter 2
Transaction Analysis
175
(continued)
P 2-72B
Req. 3
OShea Plumbing, Inc.
Trial Balance
January 31, 2009
ACCOUNT
DEBIT
Cash... $ 5,970
Accounts receivable..
550
Supplies
400
Equipment...
2,900
Land...
22,000
Accounts payable..
Common stock
Dividends..
2,900
Service revenue..
Salary expense
2,300
Utilities expense.
280
Total... $37,300
CREDIT
400
33,000
3,900
$37,300
Req. 4
Total resources (assets)
176
Chapter 2
Transaction Analysis
177
(40-50 min.)
P 2-73B
Reqs. 1 and 2
(a)
(b)
(f)
(j)
Bal.
Cash
32,000 (c)
35,800 (e)
1,700 (h)
1,600 (k)
34,700
(d)
Bal.
Supplies
200
200
(a)
Bal.
Building
52,000
52,000
32,000
2,300
100
2,000
Note Payable
(b)
35,800
Bal.
35,800
Accounts Receivable
(g)
2,800 (j)
1,600
Bal.
1,200
(c)
Bal.
(h)
Music Equipment
32,000
32,000
Accounts Payable
100 (d)
200
(i)
900
Bal.
1,000
Common Stock
(a)
84,000
Bal.
84,000
Service Revenue
(f)
1,700
(g)
2,800
Bal.
4,500
178
Chapter 2
Transaction Analysis
179
(continued)
Salary Expense
2,300
(e)
Bal.
(k)
Bal.
180
2,300
Rent Expense
1,200
1,200
P 2-73B
Advertising Expense
(i)
900
(k)
800
Bal.
1,700
Utilities Expense
(continued)
P 2-73B
Req. 3
Silver Entertainment Corporation
Trial Balance
March 31, 2010
ACCOUNT
DEBIT
CREDIT
Cash $ 34,700
Accounts receivable...
1,200
Supplies.
200
Music equipment.....
32,000
Building..
52,000
Accounts payable
$ 1,000
Note payable.
35,800
Common stock.
84,000
Service revenue
4,500
Salary expense.
2,300
Advertising expense...
1,700
Rent expense
1,200
Utilities expense.. _______
_______
Total. $125,300
$125,300
Chapter 2
Transaction Analysis
181
Decision Cases
(40-50 min.) Decision Case 1
Reqs. 1 and 2
Bal.
Cash
5,000 (c)
5,000 (d)
2,500 (f)
1,200 (f)
(j)
6,400
(c)
Supplies
1,300
(a)
(b)
(h)
(i)
(j)
1,300
1,800
2,000
1,200
1,000
Accounts Receivable
(g)
7,000 (i)
1,200
Bal.
5,800
(e)
Accounts Payable
1,000 (e)
4,400
Bal.
3,400
Furniture
4,400
Notes Payable
(b)
Common Stock
(a)
5,000
Service Revenue
(g)
7,000
(h)
2,500
Bal.
9,500
182
(f)
Salary Expense
2,000
5,000
Advertising Expense
(d)
1,800
Chapter 2
(f)
Transaction Analysis
Rent Expense
1,200
183
184
CREDIT
$ 3,400
5,000
5,000
9,500
$22,900
$9,500
$2,000
1,800
1,200
5,000
$4,400
Chapter 2
Transaction Analysis
185
$42,000
22,000
6,000
5,000
33,000
Net income
$ 9,000
ASSETS
Cash..
Food inventory...
Furniture...
Total assets.
_____
*Must solve for this amount. It is also the amount of net
income, which is the only change in
retained earnings for the month.
186
Chapter 2
Transaction Analysis
187
Ethical Issue 1
1. The ethical issue is whether these alternatives of
financing the business are proper from an economic,
legal, and ethical standpoint.
2. The stakeholders are Scruffy Murphy, the bank, potential
new creditors, and the friend who may become a
stockholder.
Option 1:
Option 2:
Cash. 100,000
Common Stock
100,000
Land. 100,000
Common Stock
100,000
100,000
188
Chapter 2
Transaction Analysis
189
Ethical Issue 2
Part A.
1. The ethical issue is whether you should question your
grade, which is higher than you expected. Your choices are (a)
discuss the grade with the professor; and (b) do not discuss
the grade with the professor.
2, 3. Stakeholders are you, the professor, the other students in
the class, and the university. The possible consequences to
you of discussing the grade with the professor is that it may
lead to the discovery that the professor made a mistake in
calculating the grade, which may lead to a downward
adjustment. While this could possibly have adverse economic
consequences (i.e., perhaps loss of scholarship if the is
substantially lowered), it is unlikely that a letter-grade drop in
one course would have such an impact on grade point
average as to cause loss of a scholarship. There is no legal
consequence to reporting a grade that is too high. The ethical
consequence is generally positive on all concerned, as it
leads to clarification of the true grade.
4. Student opinions will vary on this part.
190
Part B.
1. The ethical issue in this case is whether you should
question your grade, which is now lower than you expected.
Your choices are (a) discuss the grade with the professor; and
(b) do not discuss the grade with the professor.
2, 3. Like part a, the stakeholders are you, the professor, the
other students in the class, and the university. The possible
consequences to you of discussing the grade with the
professor is that it may lead to the discovery that the
professor made a mistake in calculating the grade, which may
lead to an upward adjustment. This could have positive
economic consequences (i.e., perhaps keeping a scholarship).
Like part a, the ethical consequence of this action is generally
positive on all concerned, as it leads to clarification of the true
grade.
4. Most students would probably respond take it to the
professor. But shouldnt we be just as concerned about
knowing the true grade either way? The author recommends
discussing the grade with the professor one way or the other.
Part C.
Chapter 2
Transaction Analysis
191
Cash
2,539 (c) 15,095
(b) 19,044 (e)
(f)
59 (g)
(i)
3,428 (a)
247
Accounts
Rec./other
705
19,166 (b) 19,044
Inventories
1,200
(c) 15,095 (d)
14,896
1,399
827
103
2,769
Other Assets
(i)
103 (h) 9
192
Net Sales
(Revenue)
(a)
19,166
Cost of Sales
(d
14,896
(g)
(e)
Operating Expenses
3,428
Chapter 2
Transaction Analysis
193
Req. 2
(Millions)
19,166
19,166
a.
b.
Cash.....
Accounts receivable, net...
19,044
Inventories..
Cash.
15,095
Cost of Sales..
Inventories.
14,896
Operating Expenses.
Cash.
3,428
Cash..
Non-operating income....
59
247
Other assets...
Cash
103
c.
d.
e.
f.
g.
h.
i.
194
19,044
15,095
14,896
3,428
59
247
103
Net sales
Cost of sales..
Gross Profit..
Operating (expenses).
Income from operations..
Non-operating income, net...
Income before income taxes ....
Provision for income taxes
Equity method investment activity, net.
Net income
Chapter 2
Transaction Analysis
(Millions)
$19,166
14,896
$4,270
(3,428)
842
59
901
(247)
(9)
$645
195
(Millions)
$
59
5,437
(X)
50
196
Chapter 2
Transaction Analysis
197
2007
$5,437
($313)
(5.4%)
2006
$5,750
$97
1.7%
2005
$5,653
$51
($200)
(79.7%)
$251
($13)
(4.9%)
$264
198
Group Projects
Student responses will vary.
Chapter 2
Transaction Analysis
199