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Category > Accounting Posted 22 May 2017 My Price 15.00

The analytical framework

1. The analytical framework used to evaluate transactions is reproduced below:

 

Cash

 

+

Non-Cash

Assets

=

Liabilities

+

Contributed

Capital

+

Accumulated Other

Comprehensive

Income

+

Retained

Earnings

 

Using this analytical framework indicate the effect of each of the following transactions for TX Corporation:

 

a.

TX Corporation purchased marketable securities for $150,000 for cash.

b.

At the end of the period TX Corporation revalued the securities to $125,000.

c.

During the next period TX Corporation sells the securities for $165,000

 

2. The analytical framework used to evaluate transactions is reproduced below:

 

Cash

 

+

Non-Cash

Assets

=

Liabilities

+

Contributed

Capital

+

Accumulated Other

Comprehensive

Income

+

Retained

Earnings

 

Using this analytical framework indicate the effect of each of the following transactions for Wisco Corporation:

 

1.

Wisco sold merchandise for $225,000 on account which cost $170,000 to manufacture.

2.

Wisco purchased for cash $110,000 of raw material inventory.

3.

The company paid $25,000 in advance for an advertising campaign that would be aired next year.

4.

Wisco paid its employees $15,000 for the month.

5.

The company purchased $7,000 of supplies on account.

6.

Wisco issued $25,000 of long-term debt.

7.

The company used $10,000 of excess cash to purchase marketable securities.

8.

Wisco purchased a machine for $22,000 in cash.

9.

At the end of the year Wisco paid dividends of $5,000.

10.

At the end of the year the marketable securities that Wisco purchased in transaction 7 were now worth $11,500.

11.

Depreciation for the period was $1,500.

 

 

Assign.docx

Assign.docx

1. The analytical framework used to evaluate transactions is reproduced below:
Cash + Non-Cash
Assets = Liabilities + Contributed
Capital + Accumulated Other + Retained
Comprehensive
Earnings
Income Using this analytical framework indicate the effect of each of the following transactions for
TX Corporation:
a.
b.
c. TX Corporation purchased marketable securities for $150,000 for cash.
At the end of the period TX Corporation revalued the securities to $125,000.
During the next period TX Corporation sells the securities for $165,000 2. The analytical framework used to evaluate transactions is reproduced below:
Cash + Non-Cash
Assets = Liabilities + Contributed
Capital + Accumulated Other + Retained
Comprehensive
Earnings
Income Using this analytical framework indicate the effect of each of the following transactions for
Wisco Corporation:
1.
2.
3. Wisco sold merchandise for $225,000 on account which cost $170,000 to manufacture.
Wisco purchased for cash $110,000 of raw material inventory.
The company paid $25,000 in advance for an advertising campaign that would be aired
next year.
4. Wisco paid its employees $15,000 for the month.
5. The company purchased $7,000 of supplies on account.
6. Wisco issued $25,000 of long-term debt.
7. The company used $10,000 of excess cash to purchase marketable securities.
8. Wisco purchased a machine for $22,000 in cash.
9. At the end of the year Wisco paid dividends of $5,000.
10. At the end of the year the marketable securities that Wisco purchased in transaction 7
were now worth $11,500.
11. Depreciation for the period was $1,500.

Answers

SuperTutor
(15)
Status NEW Posted 22 May 2017 07:05 AM My Price 15.00

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Attachments

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