Nellie thought that selling a product was about the exchange of money for a product. how could her thinking be improved on this matter?

First, add accounts payable—j. c. hollings and accounts payable—craft bank from the transactions prepared in exam figure 2 to the chart of accounts in exam figure 1. next, open all ledger accounts using the form in exam figure 3. then, post the journal entries from exam figure 2 to the ledger accounts and balance each ledger account. be sure to post the balance of each account (from page 13 of the exam) before you post the transactions you just journalized. 12. after posting the journal entries to the ledger, what is the balance of the cash account? a. debit $4,056.82 b. credit $3,013.90 c. credit $1,042.92 d. debit $3,013.90 13. after posting the journal entries to the ledger, what is the balance of the equipment—store account? a. debit $4,500 b. credit $1,500 c. debit $8,000 d. credit $4,500 14. on may 3, what is the balance of the equipment—office account? a. debit $5,090 b. debit $690 c. debit $4,400 d. credit $5,090 15. what is the balance of the accounts payable—bellhaven bank account? a. debit $1,000 b. debit $4,000 c. credit $5,000 d. credit $4,000 16. after posting the journal entries to the ledger, what is the balance of the supplies account? a. debit $500 b. debit $542.92 c. 0 d. credit $542.92 17. after posting the journal entries to the ledger, what is the balance of the accounts payable—craft bank account? a. 0 b. credit $3,500 c. debit $3,500 d. credit 0 18. after posting the journal entries to the ledger, the opening balance of the p. woodsley—capital account was a. increased. b. decreased. c. unchanged. d. deleted. 19. what entry do you make in the post ref. column of the ledger to show that you posted the transactions from the journal? a. 1 b. j1 c. leave it blank d. 11 20. asset accounts are increased by a. entries to the debit side of the account. b. crediting a liability account. c. entries to the right side of the account. d. adding a credit entry to the account’s normal balance.

After graduation, you plan to work for dynamo corporation for 12 years and then start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandfather just gave you a $32,500 graduation gift which you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?

> > objectives define federalism and explain why the framers adopted a federal system instead of a unitary system. categorize powers delegated to and denied to the national government, and powers reserved for and denied to the states, and the difference between exclusive and concurrent powers.