c. Lanni exchanges the real asset (the software) for a financial asset, which is 1,250 shares of Microsoft stock. If Microsoft issues new shares in order to pay Lanni, then this would represent the creation of new financial assets.
d. By selling its shares in Microsoft, Lanni exchanges one financial asset (1,250 shares of stock) for another ($125,000 in cash). Lanni uses the financial asset of $50,000 in cash to repay the bank and retire its promissory note. The bank must return its financial asset to Lanni. The loan is "destroyed" in the transaction, since it is retired when paid off and no longer exists.
8. a.
| Assets | Liabilities & Shareholders’ Equity |
|||
| Cash | $ 70,000 | Bank loan | $ 50,000 | |
| Computers | 30,000 | Shareholders’ equity | 50,000 | |
| Total | $100,000 | Total | $100,000 | |
b.
| Assets | Liabilities & Shareholders’ Equity |
|||
| Software product* | $ 70,000 | Bank loan | $ 50,000 | |
| Computers | 30,000 | Shareholders’ equity | 50,000 | |
| Total | $100,000 | Total | $100,000 | |
Ratio of real assets to total assets = $100,000/$100,000 = 1.0
c.
| Assets | Liabilities & Shareholders’ Equity |
|||
| Microsoft shares | $125,000 | Bank loan | $ 50,000 | |
| Computers | 30,000 | Shareholders’ equity | 105,000
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