Cannon sporting goods is one of the world's leading manufacturers of athletic shoes and sports apparel. the following activities occurred during a recent year. the amounts are rounded to millions, except for par value. a. purchased additional buildings for $174 and equipment for $260; paid $404 in cash and signed a long-term note for the rest. b. issued 90 shares of $2 par value common stock for $340 cash. c. declared $145 in dividends to be paid in the following year d. purchased additional short-term investments for $7,716 cash. e. several cannon sporting goods investors sold their own stock to other investors on the stock exchange for $90. f. sold $4,313 in short-term investments for $4,313 in cash. required: for each of the events (a) through (a. perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and for decrease) on the accounting equation. check that the accounting equation remains in balance after each transaction. (if no impact on the accounting equation leave cells blank. enter your answers in millions.) event assets liabilities stockholders' equity buildings equipment notes payable (long-term) 174 30 260 cash (404) cash b 340 common stock 180 c. dividends payable 145 short-lerm investments d 7,716 cash (7,716) short-term investments f. (4,313) cash 4,313

The sticky-price theory asserts that the output prices of some goods and services adjust slowly to changes in the price level. suppose firms announce the prices for their products in advance, based on an expected price level of 100 for the coming year. many of the firms sell their goods through catalogs and face high costs of reprinting if they change prices. the actual price level turns out to be 110. faced with high menu costs, the firms that rely on catalog sales choose not to adjust their prices. sales from catalogs will

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During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100