Nike, Inc., with headquarters in Beaverton, Oregon, is one of the world’s leadin

Question

Nike, Inc., with headquarters in Beaverton, Oregon, is one of the world’s leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions.

Purchased additional buildings for $178 and equipment for $260; paid $400 in cash and signed a long-term note for the rest.

For each of the events (a) through (f), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and - for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction. (If no impact on the accounting equation leave cells blank.)

Nike, Inc., with headquarters in Beaverton, Oregon, is one of the world’s leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions.

Explanation / Answer

Sl.no account amount($) direction

a Building 178 +

equipments 260 +

cash 400 -

long term note(debt) 38 +

b share capital 180 +

cash 335 +

c proposed dividend 145 +

d short term investments 7716 +

cash 7716 -

e - - -

f investments 4313 -

cash 4313 +

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