Study Guides (400,000)
CA (150,000)
UW (7,000)
AFM (500)
AFM123 (20)

AFM123 Study Guide - Lemonade Stand, Piggy Bank

by

Department
Accounting & Financial Management
Course Code
AFM123
Professor
Richard Ennis

This preview shows half of the first page. to view the full 1 pages of the document.
Lemonade Stand example
Mike wants to run a lemonade stand on the
weekend
Takes $30 from piggy bank
Buys 4 dozen lemons @ $5 / dozen, 1 package
paper cups @ $4
Saturday:
sells lemonade for $19 cash
sells lemonade to someone who promises to pay $3
tomorrow
uses 2 dozen lemons, half the cups
Mike’s friend repays $5 that he borrowed two weeks ago
Lemons increase to $6 / dozen
Sunday:
sells lemonade for $18 cash, collects $3 promised
uses remaining lemons & cups
You're Reading a Preview

Unlock to view full version