Tim Hortons Inc. is one of the largest quick- service restaurants in North America. The company operates a chain of coffee and doughnut shops across Canada and the United States specializing in fresh coffee, baked goods, and homestyle lunches. The following activities occurred during a recent year. The amounts are rounded to millions of dollars.
a. Purchased additional property and equipment for $ 186.7 in cash.
b. Repurchased its own shares for $ 225.2 cash. The shares were originally sold for the same amount.
c. Declared $ 110.2 in dividends and paid $ 130.5 during the year. d. Several investors in Tim Hortons shares sold their shares to other investors on the stock exchange for $ 3.5.
e. Repaid $ 7.7 in principal on long- term debt obligations.
f. Paid $ 175.9 in income taxes.
For each of these events, perform transaction analysis and indicate the account, amount, and direction of the effects on the accounting equation. Check that the accounting equation remains in balance after each transaction. Use the following headings:

  • CreatedAugust 04, 2015
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