Question
Wolverine World Wide, Inc manufactures, military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as hush puppies, wolverine,
Wolverine World Wide, Inc manufactures, military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as hush puppies, wolverine, merrell, stride rite, and bates, to a global market. the following transaction occurred during a recent year dollars are in millions.
a. Issued common stock to investors for $16.4 (cash)
b. Purchased $1,615.6 of additional inventory on account
c. paid $51.1 on long term debt principal and $4.6 in interest on the debt
d. sold $2,378 of products to customers on account; cost of the products sold was $1,425.6 (There are 2 separate effects needed for (d); one for earning revenue and one for incurring an expense)
e. paid cash dividends of $31 to shareholders
f. purchased for cash $32.4 in additional property, plant, and equipment
g. incurred $707.6 in selling expenses, paying three-fourths in cash and owing the rest on account.
h.earned $0.5 of interest on investments, receiving 80 percent in cash.
i.incurred $27 in interest expense to be paid at the beginning of next year
Balance Sheet Income Statement
Transaction | Assets | Liabilities | Stockholders' Equity | Revenues | Expenses | Net Income |
a. | ||||||
b | ||||||
c. | ||||||
d. | ||||||
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i. |
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