Fairmont Limited is a company involved in real estate development in western Canada. Fairmont (B) deals with complex stock transactions and follows the Fairmont (A) case 9A84K022.
One year after opening a gift shop, a young entrepreneur reviews his results. This exercise requires students to record the business transactions and necessary adjusting entries for the year, and prepare an income statement and balance sheet. This is an introductory transaction analysis case for an introductory finance course.
Saskatoon Country Supplies was a small farm hardware and household supply store located southeast of Saskatoon, Saskatchewan. Jim Tykoliz, the firm's general manager, was to prepare the August 1985 Bank Reconciliation Statement.
This case is an introductory exercise in financial analysis. A complete financial analysis, including ratios and a statement of changes in financial position, is required.
One month's worth of purchases and sales at a restaurant supply company must be recorded, the ending balance in accounts receivable and accounts payable must be determined, and the revenue and cost of goods sold sections of an income statement must be prepared. This exercise is suitable for an introductory course in financial accounting.
Phil Brooks, a second year university student, was investigating the feasibility of starting an enterprise called the 'Beach Bus'. The Beach Bus would be a daily transit service carrying passengers from the cities of Trenton, Belleville, and Bayside, Ontario to Outlet Beach in Sandbanks Provincial Park. Brooks wanted to evaluate the overall feasibility of the idea.
Corey Manufacturing rebuilt its production equipment and thereby extended its useful life. How should Financial Accounting entries reflect extraordinary repair on a fixed asset?