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Team Instructions: Divide the class into teams of three or four people.Each team member should work the following problem separately outside of class.Then give the students time in class to compare answers with their teammates and put together a final correct copy of the problem.Each team should turn in only one copy of the problem for grading.All team members will receive the same grade.
First do Parts A through C on your own.Then get together with your team and prepare a team solution to hand in.
Part A: Record Icon Consultant's transactions below by filling in the amount and the account title from the list of accounts below (use the abbreviations given):
Part B: Using Part A,fill in the missing information on the following financial statements for the year ended December 31,2012.
Part C:
Donkey Herd
Not real.
Cruise Line
A company that operates cruise ships, providing vacations and travels across various destinations via sea routes.
Spot Market
A market accessible to the public where financial securities or goods are exchanged with instant delivery.
Donkey Herd
A group of donkeys; often used contextually outside of agriculture to describe a collection or group with specific characteristics.
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