Part APerform Transaction Analysis for Blake Company Regarding the Following Transactions

question 55

Essay

Part A.Perform transaction analysis for Blake Company regarding the following transactions for the month of March.Indicate the account affected by the transaction as well as the increase (+)or decrease (-)to the components of the accounting equation and the amount. Part B.Determine whether the transactions A-F above affected cash flows during March.If so,determine the type of activity as an operating activity,an investing activity,or a financing activity.If cash is not affected use "no effect." Place an X under the appropriate column for each transaction.
Type of Activity

Understand the effect of complementary and substitute goods on market demand.

Calculate the necessary tax to achieve a desired decrease in consumption based on price elasticity of demand.

Calculate the optimal pricing strategy for maximizing profit taking into account the cost of production and elasticity of demand.

Evaluate how changes in per capita income and prices of related goods impact demand and pricing strategy.

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Definitions:

Sales Tax

A consumption tax imposed by the government on sales of goods and services, collected by retailers at the point of sale and passed on to the government.

Cash Register

An electronic or mechanical device for registering and calculating transactions at a point of sale, often equipped with a cash drawer.

Cashier's Accuracy

The measure of a cashier's performance in handling transactions correctly, minimizing discrepancies between the recorded amount and the actual amount of cash received.

Internal Control

Initiatives and practices instituted by an enterprise to confirm the trustworthiness of its financial and accounting statements, uphold responsibility, and eliminate fraud.