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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 33
Determining the Accounting Equation Effects of Transactions
Yahoo! Inc. is a leading provider of Internet products and services. Listed here are representative transactions from 2010 (in millions). Complete the following table, indicating the sign (+ for increase, for decrease, and NE for no effect) and amount of the effect of each transaction. Provide an account name for any revenue or expense transactions included in stockholders' equity. Consider each item independently.
a. Recorded marketing revenues on account of $6,325.
b. Obtained $167 cash by issuing stock.
c. Incurred research and development expense of $1,080, which was paid in cash.
Yahoo! Inc. is a leading provider of Internet products and services. Listed here are representative transactions from 2010 (in millions). Complete the following table, indicating the sign (+ for increase, for decrease, and NE for no effect) and amount of the effect of each transaction. Provide an account name for any revenue or expense transactions included in stockholders' equity. Consider each item independently.
a. Recorded marketing revenues on account of $6,325.
b. Obtained $167 cash by issuing stock.
c. Incurred research and development expense of $1,080, which was paid in cash.
Explanation
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Effect of transactions on Accounting equ...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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