The sixth message
Homework:
Suppose that Beach Toys, Inc., bought the land for $10,000 (not $8,000).
Suppose also that they bought the building for $60,000 (not $50,000).
Assume that they bought both assets with cash. Make a new balance sheet
or transaction worksheet. Then answer these questions.
1. What is the new cash value on the balance sheet?
The cash value on the balance sheet is $20,000.
2. What is the new value of the long-term assets?
The new value of the long-term assets is $70,000.
3. What is the new value of the total assets?
The new value of the total assets is $90,000.
4. What is the new value of the total liabilities and
stockholders' equity?
The new value of the total liabilities and stockholders` equity is
$90,000.
Today (Sunday) is Father's Day in the US. It is a day to honor our fathers. This page tells how and when Father's Day started:
http://www.holidays.net/father/story.htm.
Many people buy presents for their fathers. Power tools are popular gifts for dads. Here is a great store to buy power
tools--Home Depot: http://www.homedepot.com/
You can see the temperature for Arnold Maryland here:
In the US we measure temperature in Fahrenheit, not Centigrade. Body temperature is 98.6 degrees Fahrenheit. A pleasant day is 70 degrees. A hot day is 90 degrees. A cold day is 30 degrees.
The new lesson this week is about the income statement. This is the second financial statement. We have two lessons on the income statement. This is the first lesson: http://www72.homepage.villanova.edu/susan.stiner/cgu/income106.htm