When you go into a store and buy a candy bar. What is the transaction from...
When you go into a store and buy a candy bar. What is the transaction from your own position? What did you get? What did you give up? What is the transaction from the storeowner’s perspective? What did he/she get? What did he/she give up? How many different ways can you pay for the candy bar? Thinking about the accounting equation, how would each way of paying to be recorded. What accounts would be affected from your perspective and from the store owner’s perspective?
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When you go into a store and buy a candy bar. What is the
transaction from...
When you go into a store and buy a candy bar. And if, for some reason,...
When you go into a store and buy a candy bar. And if, for some reason, the buyer did not eat the candy bar, but chose to return it. Then what would the accounting be?
You're planning on making 5 meatloafs for a party. You go to the store to buy...
You're planning on making 5 meatloafs for a party. You go to the store to buy breadcrumbs, and see they are sold by the canister. How many canisters do you need to buy? First, determine what information you need to answer this question, then click here to display that info (along with other info). How much breadcrumbs does the recipe call for? It calls for 1 1/4 cups of breadcrumbs. How many meatloafs does the recipe make? It makes 1...
Utility Your classmate is extremely hungry, and decided to go to the store to get some snacks. There are two choices, i...
Utility Your classmate is extremely hungry, and decided to go to the store to get some snacks. There are two choices, ice cream or doughnuts. He/she/they can only buy the next snacik after finishing the one he/she already has. Answer the following questions. Q1. Fill in your classmate's response. How much is he/shefthey willing to pay for each quantity of snack? Ice cream 10 10 Q3. Suppose the ice cream is $2 for each scoop, the doughnut is $3 each....
Buy it? Pass it up? Charge it? These are the questions that should occur to you...
Buy it? Pass it up? Charge it? These are the questions that should occur to you each time you are thinking of buying something. How do you decide? You should ask yourself a series of questions — to test if and how to make the purchase. What would you do? Kirsten is a freshman at Southern Maine Community College. Her parents gave her a credit card, but she is supposed to use it only for emergencies. She is in the...
2) You go to the shoe store and are looking for new running shoes. At the...
2) You go to the shoe store and are looking for new running shoes. At the store you find out that they have 32 different pairs of shoes that would fit you. If 12 of those are Nike’s, and 10 are Reebok, what is the probability if you choose randomly that you would get a shoe that is made by Nike or Reebok? Please set up (i.e P(Nike)) and show all steps of the question, not just the answer. 3)...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b)...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
You are the manager at the Paint-a-Plenty, a small independently owned paint supply store in Upper...
You are the manager at the Paint-a-Plenty, a small independently owned paint supply store in Upper Northeast Maryland. Four weeks ago, one of your employees reported that there had been an incident on their shift where a customer had slipped and fallen when a small cup of coffee had been spilled near the cash register. The coffee had been spilled by the customer immediately ahead of the customer who had slipped and fallen. Since your employee was the only employee...
Bar Stool Economics Suppose that every day, ten men go out for beer and the bill...
Bar Stool Economics Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay...
suppose joey is a five year old (your friend's, your nephew, your neighbor, just a kid...
suppose joey is a five year old (your friend's, your nephew, your neighbor, just a kid you care about) accompanies you to the store (pre corona; no virus to worry about). as you are happily shopping, joey sees candy and demands to have one. you of course tell him nicely that candy is not good for him, he insists. you try to explain that his teeth will have cavities, he screams, you explain his mommy (daddy, etc.) will kill you,...
Staci wants to buy Todd’s 1958 Les Paul guitar. She played it when she was recently...
Staci wants to buy Todd’s 1958 Les Paul guitar. She played it when she was recently visiting North Carolina. She calls Todd Sunday night and offers him $8,000 for the guitar. Todd replies he can’t take $8,000 and says, “I will let you have it for a $12,000 and you have to pay for shipping to your home in Kalamazoo, Michigan.” Staci knows that Todd likes her and wants to ask her out on a date. Staci replies, “I can’t...
Utility Your classmate is extremely hungry, and decided to go to the store to get some snacks. There are two choices, ice cream or doughnuts. He/she/they can only buy the next snacik after finishing the one he/she already has. Answer the following questions. Q1. Fill in your classmate's response. How much is he/shefthey willing to pay for each quantity of snack? Ice cream 10 10 Q3. Suppose the ice cream is $2 for each scoop, the doughnut is $3 each....
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
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