Alezandrays Interiors, Inc., is a leading international manufacturer and retailer of home furnishings. The following is adapted from Alexanders balance sheet as of September 30, 2014. Dollars are in millions.

Cash	$	128.00	Accounts Payable	$	50.00
Accounts Receivable		36.00	Wages and Other Expenses Payable		183.00
Inventories		260.00	Long-Term Debt		275.00
Other Current Assets		50.00	Other Long-Term Liabilities		68.00
Property, Plant, and Equipment		451.00	Contributed Capital		452.00
Other Assets		147.00	Retained Earnings		44.00

Assume that the following events occurred in the quarter ended December 31. Dollars are in millions.
a.	Paid $14,000,000 cash for an additional other asset.
b.	Issued additional shares for $14,000,000 in cash.
c.	Purchased property, plant, and equipment; paid $14,000,000 in cash and signed a note to pay the remaining $33,000,000 in two years.
d.	Sold, at cost, other assets for $2,200,000 cash.
e.	Conducted negotiations to purchase a sawmill, which is expected to cost $60,000,000.

Required:
1.	Analyze transactions (a) through (e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign. Enter your answer in millions.)

Transaction Assets = Liabilities + shareholders

a

b

c

d

e

2. Record the transaction effects determined in requirement 1 using journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in millions.)

Transaction General Journal Debit Credit

1. Paid $14,000,000 cash for an additional other asset.

2. Issued additional shares for $14,000,000 in cash.

3. Purchased property, plant, and equipment; paid $14,000,000 in cash and signed a note to pay the remaining $33,000,000 in two years.

4. Sold, at cost, other assets for $2,200,000 cash.

5. Conducted negotiations to purchase a sawmill, which is expected to cost $60,000,000