Chapter 2: Accounting for Transactions

Solution Manual for Financial Accounting Fundamentals 5th Edition

by Wild ISBN 0078025753 9780078025754
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QUESTIONS
1. a. Common asset accounts: cash, accounts receivable, notes receivable, prepaid expenses
(rent, insurance, etc.), office supplies, store supplies, equipment, building, and land.
b. Common liability accounts: accounts payable, notes payable, and unearned revenue,
wages payable, and taxes payable.
c. Common equity accounts: common stock and dividends.
2. A note payable is formal promise, usually denoted by signing a promissory note to pay a
future amount. A note payable can be short-term or long-term, depending on when it is due.
An account payable also references an amount owed to an entity. An account payable can
be oral or implied, and often arises from the purchase of inventory, supplies, or services. An
account payable is usually short-term.
3. There are several steps in processing transactions: (1) Identify and analyze the transaction
or event, including the source document(s), (2) apply double-entry accounting, (3) record the
transaction or event in a journal, and (4) post the journal entry to the ledger. These steps
would be followed by preparation of a trial balance and then with the reporting of financial
statements.
4. A general journal can be used to record any business transaction or event.
5. Debited accounts are commonly recorded first. The credited accounts are commonly
indented.
6. A transaction is first recorded in a journal to create a complete record of the transaction in
one place. (The journal is often referred to as the book of original
entry.) This process reduces the likelihood of errors in ledger accounts.
7. Expense accounts have debit balances because they are decreases to equity (and equity
has a normal credit balance).
8. The recordkeeper prepares a trial balance to summarize the contents of the ledger and to
verify the equality of total debits and total credits. The trial balance also serves as a helpful
internal document for preparing financial statements and other reports.
Chapter 2: Accounting for Transactions

9. The error should be corrected with a separate (subsequent) correcting entry. The entry’s
explanation should describe why the correction is necessary.
10. The four financial statements are: income statement, balance sheet, statement of retained
earnings, and statement of cash flows.
11. The balance sheet provides information that helps users understand a company’s financial
position at a point in time. Accordingly, it is often called the statement of financial position.
The balance sheet lists the types and dollar amounts of assets, liabilities, and equity of the
business.
12. The income statement lists the types and amounts of revenues and expenses, and reports
whether the business earned a net income (also called profit or earnings) or a net loss.
13. An income statement user must know what time period is covered to judge whether the
company’s performance is satisfactory. For example, a statement user would not be able
to assess whether the amounts of revenue and net income are satisfactory without knowing
whether they were earned over a week, a month, a quarter, or a year.
14. (a) Assets are probable future economic benefits obtained or controlled by a specific entity
as a result of past transactions or events. (b) Liabilities are probable future sacrifices of
economic benefits arising from present obligations of a particular entity to transfer assets or
provide services to other entities in the future as a result of past transactions or events. (c)
Equity is the residual interest in the assets of an entity that remains after deducting its
liabilities. (d) Net assets refer to equity.
15. The balance sheet is sometimes referred to as the statement of financial position.
16. Debit balance accounts on the Polaris balance sheet include: Cash and cash equivalents;
Trade receivables, net; Inventories, net; Prepaid expenses and other; Income taxes
receivable; Deferred tax assets; Land, buildings and improvements; Equipment and tooling;
Property and equipment, net; Investments in finance affiliate; Investments in other affiliates;
Goodwill and other intangible assets, net.
Credit balance accounts on the Polaris balance sheet include: Accumulated depreciation;
Current portion of long-term borrowings under credit agreement; Current portion of capital
lease obligations; Accounts payable; Accrued expenses (including compensation,
warranties, sales promotions and incentives, dealer holdback and other); Income taxes
payable; Deferred income taxes; Capital lease obligations; Long-term debt; Preferred stock;
Common stock; Additional paid-in capital; Retained earnings; Accumulated other
comprehensive income, net.
17. The asset account with receivable in its account title is: Accounts receivable, less allowances.
The liabilities with payable in the account title are: Accounts payable and Income taxes
payable.
18. KTM’s revenue account is titled ―Net sales.‖
19. Piaggio calls the asset referring to its merchandise available for sale: ―Inventories.‖
Chapter 2: Accounting for Transactions

QUICK STUDIES
Quick Study 2-1 (10 minutes)

The likely source documents include:

a. Sales ticket
d. Telephone bill
e. Invoice from supplier
i. Bank statement

Quick Study 2-2 (5 minutes)

a. B Balance sheet
b. E Statement of retained earnings
c. I Income statement
d. B Balance sheet
e. B Balance sheet
f. I Income statement
g. B Balance sheet
h. B Balance sheet
i. B Balance sheet

Quick Study 2-3 (10 minutes)

a. Debit d. Debit g. Credit

b. Debit e. Debit h. Debit
c. Credit f. Debit i. Credit

Quick Study 2-4 (10 minutes)

a. Debit e. Debit i. Credit

b. Debit f. Credit j. Debit
c. Credit g. Credit k. Debit
d. Credit h. Debit l. Credit
Quick Study 2-5 (10 minutes)

a. Debit e. Debit i. Credit

b. Credit f. Credit j. Debit
c. Debit g. Credit
d. Credit h. Credit

Quick Study 2-6 (15 minutes)

May 15 Cash .............................................................................. 70,000

Equipment .................................................................... 30,000
Common Stock................................................ 100,000
Owner invests cash and equipment for stock.

21 Office Supplies ........................................................ 280

Accounts Payable ........................................... 280
Purchased office supplies on credit.

25 Cash.......................................................................... 7,800
Landscaping Services Revenue .................... 7,800
Received cash for landscaping services.

30 Cash.......................................................................... 1,000
Unearned Landscaping Services Revenue .. 1,000
Received cash in advance for landscaping services.

Quick Study 2-7 (10 minutes)

The correct answer is a.

Explanation: If a $2,250 debit to Utilities Expense is incorrectly posted as a credit,
the effect is to understate the Utilities Expense debit balance by
$4,500. This causes the Debit column total on the trial balance to be $4,500 less
than the Credit column total.
Quick Study 2-8 (10 minutes)

a. I e. B i. E

b. B f. B j. B

c. B g. B k. I
d. I h. I l. I

Quick Study 2-9 (10 minutes)

a. Accounting under IFRS follows the same debit and credit system as under US
GAAP.

b. The same four basic financial statements are prepared under IFRS and US
GAAP: income statement, balance sheet, statement of changes in equity, and
statement of cash flows. Although some variations from these titles existwithin
both systems, the four basic statements are present.

c. Accounting reports under both IFRS and US GAAP are likely different
depending on the extent of accounting controls and enforcement. For example,
the absence of controls and enforcement increase the possibility of fraudulent
transactions and misleading financial statements. Without controls and
enforcement, all accounting systems run the risk of abuse and manipulation.
 EXERCISES
Exercise 2-1 (10 minutes)

1 a. Analyze each transaction from source documents.

4 b. Prepare and analyze the trial balance.

2 c. Record relevant transactions in a journal.

3 d. Post journal information to ledger accounts.

Exercise 2-2 (10 minutes)

a. 3 d. 5

b. 4 e. 2

c. 1

Exercise 2-3 (5 minutes)

a. 2 b. 1
Exercise 2-4 (15 minutes)

Type of Normal Increase

Account Account Balance (Dr. or Cr.)
a. Cash ............................................ asset debit debit
b. Legal Expense............................ expense debit debit
c. Prepaid Insurance...................... asset debit debit
d. Land ............................................ asset debit debit
e. Accounts Receivable................. asset debit debit
f. Dividends.................................... equity debit debit
g. License Fee Revenue ................ revenue credit credit
h. Unearned Revenue .................... liability credit credit
i. Fees Earned................................ revenue credit credit
j. Equipment .................................. asset debit debit
k. Notes Payable ............................ liability credit credit
l. Common Stock........................... equity credit credit

Exercise 2-5 (15 minutes)

a. Beginning accounts payable (credit) .................................... $152,000
Purchases on account in October (credits) ......................... 281,000
Payments on accounts in October (debits).......................... ( ?)
Ending accounts payable (credit) ......................................... $132,500

Payments on accounts in October (debits).......................... $300,500

b. Beginning accounts receivable (debit) ................................. $102,500

Sales on account in October (debits) ................................... ?
Collections on account in October (credits) ........................ (102,890)
Ending accounts receivable (debit) ...................................... $ 89,000

Sales on account in October (debits) ................................... $ 89,390

c. Beginning cash balance (debit)............................................. $ ?

Cash received in October (debits) ........................................ 102,500
Cash disbursed in October (credits)..................................... (103,150)
Ending cash balance (debit) .................................................. $ 18,600

Beginning cash balance (debit)............................................. $ 19,250

Exercise 2-6 (15 minutes)

Of the items listed, the following effects should be included:

a. $28,000 increase in a liability account.
b. $10,000 increase in the Cash account.
e. $62,000 increase in a revenue account.

Explanation: This transaction created $62,000 in revenue, which is the value of the
service provided. Payment is received in the form of a $10,000 increase in cash,
an $80,000 increase in computer equipment, and a
$28,000 increase in its liabilities. The net value received by the company is
$62,000.

Exercise 2-7 (25 minutes)

Aug. 1 Cash ....................................................................6,500

Photography Equipment ................................. 33,500
Common Stock .......................................... 40,000
Owner investment in business for stock.

2 Prepaid Insurance............................................ 2,100

Cash............................................................ 2,100
Acquired 2 years of insurance coverage.

5 Office Supplies................................................. 880

Cash............................................................ 880
Purchased office supplies.

20 Cash .................................................................. 3,331

Photography Fees Earned ........................ 3,331
Collected photography fees.

31 UtilitiesExpense .............................................. 675

Cash ............................................................ 675
Paid for August utilities.
Exercise 2-8 (30 minutes)

Cash Photography Equipment

Aug. 1 6,500 Aug. 2 2,100 Aug. 1 33,500
20 3,331 5 880
31 675 Common Stock
Balance 6,176 Aug. 1 40,000

Office Supplies Photography Fees Earned

Aug. 5 880 Aug. 20 3,331

Prepaid Insurance Utilities Expense

Aug. 2 2,100 Aug. 31 675

POSE-FOR-PICS
Trial Balance
August 31
Debit Credit
Cash .............................................. $ 6,176
Office supplies ............................. 880
Prepaid insurance........................ 2,100
Photography equipment ............. 33,500
Common stock............................. $40,000
Photography fees earned............ 3,331
Utilities expense........................... 675
Totals ............................................ $43,331 $43,331
Exercise 2-9 (30 minutes)

a. Cash.............................................................................. 100,750 Common

Stock .................................................. 100,750
Owner invested in the business for stock.

b. Office Supplies.......................................................... 1,250

Cash.................................................................... 1,250
Purchased supplies with cash.

c. Office Equipment ...................................................... 10,050

Accounts Payable ............................................. 10,050
Purchased office equipment on credit.

d. Cash................................................................................ 15,500
Fees Earned ....................................................... 15,500
Received cash from customer for services.

e. Accounts Payable ..................................................... 10,050

Cash.................................................................... 10,050
Made payment toward account payable.

f. Accounts Receivable................................................ 2,700

Fees Earned ....................................................... 2,700
Billed customer for services provided.

g. Rent Expense ............................................................ 1,225

Cash.................................................................... 1,225
Paid for this period’s rental charge.

h. Cash ........................................................................... 1,125 Accounts

Receivable ........................................ 1,125
Received cash toward an account receivable.

i. Dividends................................................................... 10,000
Cash.................................................................... 10,000
Paid cash dividends.
Exercise 2-9 (concluded)
Cash Accounts Payable
(a) 100,750 (b) 1,250 (e) 10,050 (c) 10,050
(d) 15,500 (e) 10,050 Balance 0
(h) 1,125 (g) 1,225
(i) 10,000
Balance 94,850 Common Stock
(a) 100,750
Balance 100,750

Accounts Receivable Dividends

(f) 2,700 (h) 1,125 (i) 10,000
Balance 1,575 Balance 10,000

Office Supplies Fees Earned

(b) 1,250 (d) 15,500
Balance 1,250 (f) 2,700
Balance 18,200

Office Equipment Rent Expense

(c) 10,050 (g) 1,225
Balance 10,050 Balance 1,225

Exercise 2-10 (15 minutes)

SPADE COMPANY
Trial Balance
May 31, 2013
Debit Credit
Cash ............................................. $ 94,850
Accounts receivable ................... 1,575
Office supplies............................. 1,250
Office equipment ......................... 10,050
Accounts payable........................ $ 0
Common stock ............................ 100,750
Dividends ..................................... 10,000
Fees earned ................................. 18,200
Rent expense ............................... 1,225
Totals............................................ $118,950 $118,950
Exercise 2-11 (20 minutes)

Transactions that created revenues:

b. Accounts Receivable .......................................... 2,300
Services Revenue ......................................... 2,300
Provided services on credit.

c. Cash ..................................................................... 875

Services Revenue ......................................... 875
Provided services for cash.

[Note: Revenues are inflows of assets (or decreases in liabilities) received

in exchange for goods or services provided to customers.]

Transactions that did not create revenues along with the reasons are:

a. This transaction brought in cash, but this is an owner investment.

d. This transaction brought in cash, but it created a liability because the services
have not yet been provided to the client.

e. This transaction changed the form of the asset from accounts receivable to
cash. Total assets were not increased (revenue was recognized when the
receivable was originally recorded).

f. This transaction brought in cash and increased assets, but it also increased
a liability by the same amount (no goods or services were provided to generate
revenue).
Exercise 2-12 (20 minutes)
Transactions that created expenses:
b. Salaries Expense......................................... 1,233
Cash....................................................... 1,233
Paid salary of receptionist.
d. Utilities Expense ......................................... 870
Cash ....................................................... 870
Paid utilities for the office.
[Note: Expenses are outflows or using up of assets (or the creation of
liabilities) that occur in the process of providing goods or services to
customers.]

Transactions a, c, and e are not expenses for the following reasons:

a. This transaction decreased assets in settlement of a previously existing liability,
and equity did not change. Cash payment does not mean the same as using
up of assets (expense is recorded when the supplies are used).
c. This transaction involves the purchase of an asset. The form of the company’s
assets changed, but total assets did not change, and the equity did not
decrease.
e. This transaction is a distribution of cash to the owner. Even though equity
decreased, the decrease did not occur in the process of providing goods or
services to customers.

Exercise 2-13 (15 minutes)

HELP TODAY
Income Statement
For Month Ended August 31
Revenues
Consulting fees earned......................... $ 27,000
Expenses
Rent expense ......................................... $ 9,550
Salaries expense ................................... 5,600
Telephone expense ............................... 860
Miscellaneous expenses ...................... 520
Total expenses...................................... 16,530
Net income.................................................. $ 10,470
Exercise 2-14 (15 minutes)

HELP TODAY
Statement of Retained Earnings
For Month Ended August 31
Retained earnings, July 31 ........................ $ 0
Add: Net income (from Exercise 2-13)...... 10,470
10,470
Less: Dividends......................................... 6,000
Retained earnings, August 31................... $ 4,470

Exercise 2-15 (15 minutes)

HELP TODAY
Balance Sheet
August 31
Assets Liabilities
Cash............................... $ 25,360 Accounts payable................ $ 10,500
Accounts receivable .... 22,360
Office supplies.............. 5,250 Equity
Office equipment .......... 20,000 Common stock .................... 102,000
Land............................... 44,000 Retained earnings* .............. 4,470
Total assets................... $116,970 Total liabilities & equity ...... $116,970

* Amount from Exercise 2-14.

Exercise 2-16 (20 minutes)

Calculation of change in equity for part a through part d

Assets - Liabilities = Equity
Beginning of the year ........ $ 60,000 - $20,000 = $40,000
End of the year................... 105,000 - 36,000 = 69,000
Net increase in equity........ $29,000

a. Netincome.......................................................... $ ?
Plus owner investments .................................... 0
Less dividends .................................................. (0)
Change in equity ................................................ $29,000
Net Income = $29,000
Since there were no additional investments or dividends, the net
income for the year equals the net increase in equity.

b. Netincome.......................................................... $ ?
Plus owner investments .................................... 0
Less dividends ($1,250/mo. x 12 mo.).............. (15,000)
Change in equity ................................................ $29,000
Net Income = $44,000
The dividends were added back because they reduced equity
without reducing net income.

c. Netincome.......................................................... $ ?
Plus owner investment ...................................... 55,000
Less dividends ................................................... (0)
Change in equity ................................................ $29,000
Net Loss = $26,000
The investment was deducted because it increased equity without
creating net income.

d. Netincome.......................................................... $ ?
Plus owner investment ...................................... 35,000
Less dividends ($1,250/mo. X 12 mo.).............. (15,000)
Change in equity ................................................ $29,000
Net Income = $9,000
The dividends were added back because they reduced equity without
reducing net income and the investments were deducted because
they increased equity without creating net income.
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 CHAPTER XXXIV.
THE CONQUEST ACHIEVED.

July-August, 1521.

The Destroyers Advance—Fierce Fighting in the Plaza—Dismal Situation

of the Mexicans—The Work of Demolition—Movements of Alvarado—
The Emperor Refuses to Parley—Misery of the Aztecs Unbearable—
Horrible Massacre of Women and Children—The Tender-hearted
Cortés Mourns over his own Work—Capture of the Emperor—The
Conquest Completed—Banquets and Thanksgivings—Dispersion of the
Allies to their Homes—Reflections.

With a force of over one hundred and fifty thousand men the
Spaniards now advanced on the city, a large proportion destined
wholly to raze buildings, fill channels, and remove obstacles, while
the rest were to drive back the enemy and keep them at bay. At the
channel near the plaza the Mexicans detained the forces for an hour
with a peace proposal, in order to gain time for some operation, and
then suddenly they began to ply their missiles. Cortés was not slow
to accept the challenge, and led the attack with a recklessness that
caused his followers to remonstrate with him for exposing so
valuable a life. It had the effect, however, of so encouraging the
charging party that the channel with its intrenchments was quickly
captured. On reaching the plaza they found it covered with loose
stones, which prevented the horses from running. Several streets
leading to it were blocked with stone barricades. The main effort for
this day was directed toward opening the approach to the plaza,
which was to serve as the starting-point for subsequent movements.
The work was slow, owing to the massive character of the buildings
along the leading avenue, and in this imperial centre of the city; but
myriads swarmed thereat, and structure after structure was levelled,
opening wide access to the southern causeway.
The Mexicans made repeated efforts to stay such ruthless
destruction. But their onslaught was futile, for thundering cannon and
fiery chargers protected every point. “Burn and raze, you slaves,”
they shouted to the auxiliaries in their impotent fury; “you will have to
rebuild it all, either for us if we win, or for your present masters if they
conquer!” And so it happened. With dreary tasks did they pay for the
momentary triumph over their enemy. During the withdrawal of the
troops to camp in the evening the Mexicans were able to make a
forcible demonstration, more so than usual on these occasions, if we
may credit the native records. They pushed in front of their lines a
fine-looking Spanish cross-bowman, reserved from the late captives,
and sought to make him direct his arrows against his countrymen.
This he refused to do, always shooting too high, and finally the
enraged Aztecs cut him down. His presence naturally interfered with
the free operations of the soldiers, as the enemy had expected.
On the following days Cortés ascended the commanding temple
pyramid in the plaza, and thence directed more effectively the
operations for razing buildings and driving back the Mexicans, who
fought with desperation for every foot of ground, so much so that on
one day alone fell twenty thousand it is said. On one occasion a
corps of Tlascaltecs crossed a canal and were thrown into disorder
by the enemy. The Aztecs began to exult, and one of their number, a
muscular warrior with enormous bejewelled plumage, armed with a
Spanish sword and shield, shouted a challenge to any Spaniard.
Several were ready, among them Hernando de Osma, who had just
swum across the canal to sustain the wavering allies. Dripping wet
he rushed upon the warrior, but received a blow which cleft his
shield. Recovering himself, he dealt the Mexican a thrust from below
and stretched him dead, whereupon he snatched the sword and
plumage and sprang back in time to escape the pursuing friends of
the fallen man. He afterward offered the trophy to Cortés, who
accepted, but returned it at once with the remark that none was so
worthy thereof as he who had won it. The deed served also to
reanimate the Tlascaltecs, and they sustained their position.
Not long after, another powerful warrior, similarly plumed, came
forth brandishing a Spanish sword and announcing that he sought
the glory of either dying by the hand of a brave Spaniard or defeating
him. Cortés, who was present, told him that ten more men like
himself were needed to match one soldier. The warrior insisted.
“Very well,” said the general, “this beardless page of mine shall
despatch you, and demonstrate the mettle of our Castilian boys.”
Juan Nuñez de Mercado, as the youth was called, thereupon
stepped forward, and bravely as this Goliah fought, a few passes
from the skilled arm of the youngster soon sufficed to lay him low.
This feat served not alone to discourage duels with Spaniards, but
was regarded by many Mexicans as a bad omen.[1190]
Whatever may have been the reverses of the enemy, they
usually rallied in the evening to pursue the troops as they returned to
camp, the allies being always sent back first so as to leave the road
clear for the soldiers, covered by the cavalry. One day the pursuit
was not made for some reason, and a few horsemen ventured to
look into it, but only to be driven back with two animals badly
wounded. Cortés resolved to be avenged. He ordered Sandoval to
reënforce him so as to increase the number of horse to forty. Thirty
of these were posted early in the day in a hiding-place near the
plaza, and close by a hundred select soldiers and a corps of
Tlascaltecs. When the hour came to return to camp, the Mexicans,
as expected, fell upon the retreating lines in stronger force than ever,
encouraged by the achievement of the previous evening and by the
pretended timidity of the ten horsemen who covered the rear. When
the first columns of pursuers had well passed the hiding-place, the
signal was given, and with ringing Santiagos the parties in ambush
rushed upon the startled warriors. Finding their retreat cut off, the
severed section lost presence of mind, and permitted themselves to
be butchered like cattle. When the massacre was over, fully five
hundred of the flower of the Aztec armies covered the ground.[1191]
Never again were the Spaniards exposed to pursuit near or beyond
the plaza, or indeed to any such fierce charges, and the horses
became again an object of awe.[1192]
The captives were questioned regarding the condition of the city,
and from them a revelation was obtained showing that the majority of
the occupants were in favor of capitulation, but afraid to express their
views in face of the firmness of Quauhtemotzin and his party, who
were resolved to defend their city to the end. And there was still
enthusiasm among the Mexican people. Women and cripples could
be seen preparing and bringing war material for stronger arms to
use; they swept dust from the roofs into the faces of assailants, while
children threw tiny stones and lisped an echo of the curse that fell
from the lips of their parents. But all this manifest spirit was slowly
but surely subsiding, and deep and dismal woe was settling down
upon them.[1193] Alas for Mexico, pride of the grand plateau! Alas for
thine ancient grandeur! Blotted out forever must be thy culture,
crushed thy budding progress! The days of thy glory are ended; and
so are thy bloody ceremonies and sacrificial stones!
Long sieges had never suited the native ideas of warfare, and
experience could therefore teach little in the preparation for the
event. Vast supplies had been accumulated by the Mexicans, but a
large influx of fugitives from the lake towns had swelled the number
of non-combatants and had helped to diminish the food supply,
which had received but scanty additions, owing to the close watch of
the cruisers. Nor had any restrictions been placed on consumption,
since the provisions were chiefly in private hands. Now famine was
raging with rapidly increasing horrors, and jewels were offered by the
handful for an equal quantity of food.[1194] Excluded from such
competition, the poorer classes sought in holes and canals for snails,
lizards, and rats, skimmed the surface of the water for its
mucilaginous scum, or tore up the earth for roots and weeds, glad
even to chew the bark of trees, and anxiously waiting for the scanty
allowance of brackish water. Disease was marching hand-in-hand
with hunger, and weakened by their sufferings hundreds were left to
linger in torment till welcome death relieved them. The frequency of
these incidents made the people callous, and the sufferings even of
near friends were looked on with indifference by the gaunt and
hollow-eyed, who were themselves marked for death.
Regardless of the consequences, many crept at night close to
the Spanish camps in search of roots and refuse which could no
longer be found within their precincts. Advised of such movements, a
body of soldiers and allies was sent out before sunrise one day and
fell on a large number, slaughtering many of them before discovering
them to be starving women and children.[1195] It was necessary to
take increased measures even against these surreptitious attempts
to sustain the defence, and to keep in the useless population, though
there was little prospect of any important exodus, since the fear of
the savage and cannibal auxiliaries who surrounded the city made its
very pest-holes appear attractive places of refuge. The vessels were
particularly efficient for this purpose, the more so since the crews
had found a ready means to render the submerged stakes and
palisades of little hindrance.[1196] They were thus enabled to ravage
the suburbs, and to coöperate with the other forces by landing and
driving the inhabitants toward the narrow quarter in which they were
now confined. They had not always an easy task, however, for the
Mexicans were growing more reckless, and would sometimes
venture to meet even the ‘winged houses.’
On one occasion a portion of the fleet was closely beset in a
confined place, and the flag-ship happening to strand on some
timbers the crew became panic-stricken and sought to abandon her.
Martin Lopez, the builder, who was the chief pilot, at once turned
against the deserters, and being a large and powerful man he
pitched two into the water, beat and bruised half a dozen others, and
soon compelled their return to duty. He thereupon led them against
the enemy and drove them off, killing the leader, who was a
prominent officer. For this important service the brave Lopez was
rewarded with a captaincy.[1197]
Cortés made quite rapid advance in the work of demolition,
considering the immensity of it. The Tlacopan road had been
levelled, rendering communication easy with the camp of Alvarado,
and on the eve of Santiago’s day[1198] the greater part of the main
street to the market was gained. This thoroughfare bore afterward
the name of Guatemotzin,[1199] because this emperor’s palace was
here situated. Strongly fortified, its capture was not effected without
a severe struggle, wherein many a brave fellow met his fate. During
the fight Alderete’s horse became unmanageable from a thrust, and
rushed amid the enemy in mad fury, creating more disorder by his
pawing and biting than a squad of soldiers could have done.[1200]
Equally severe was the struggle on the following days in entering
and filling a street with a wide canal, adjoining the main road. At the
same time was taken a temple,[1201] wherein a number of impaled
bearded heads stared the horrified Spaniards in the face. Tears filled
the eyes of the beholders, and reverently the ghastly remains were
taken down to receive Christian rites.[1202]
 The progress of Cortés’ party in the direction of Tlatelulco
market, the objective point of all the movements, had impelled
Alvarado to almost superhuman efforts to gain before them a spot
lying much nearer to his camp. Once within, he hoped to keep his
ground, for it was large and level, twice the size of the market-place
in Salamanca, says Cortés, and capable of accommodating sixty
thousand persons. It was lined with porticos, wherein more
substantial traders had their shops, while the open square was
covered with booths, between which the Spaniards had so often
wandered to gaze on products of every variety, from field and forest,
from river and mountain, as well as from the workshop of artisan and
artist.[1203] Thus it was formerly; but now were to be displayed only
the worst phases of human selfishness, cunning, and brutality; blood
and corpses in lieu of fabrics and provisions; fierce war-cries and the
clash of arms in place of merry traffickings and the clink of coin. By
the day following Santiago’s day Alvarado had levelled a wide
approach, and now he resolved to direct his whole strength against
this plaza, leaving merely a portion of his auxiliaries to attend to
further razing operations. Before dawn the next morning he
advanced with all his force and took the Aztecs by surprise. He
effected an entrance with little trouble, and was able to meet in good
order the bands which came to retrieve their neglect by fierce
charges. They were led by the renowned orders of Tigers and
Eagles, conspicuous in their corresponding gear, and eager to
maintain the reputation which had gained for them their insignia.
Mayehuatzin, lord of Cuitlahuac, was also among the prominent
leaders, but the cavalry soon obliged him to turn in flight, and
enabled the infantry to capture a number of the shops which lined
the market, and begin to pillage. Much more determined proved the
division under the Tiger captain, Coyohuehuetzin, who fell back and
maintained himself on the Momuztli edifice.
 While the main portion of the Spanish forces thus fought at
different points in the plaza with varying advantage, Captain Gutierre
de Badajoz was ordered to capture the great temple which
overlooked the market. It was held by Temilotzin and Tlacatecatl,
who fiercely disputed his advance. Time and again were his men
driven back, or sent tumbling down the steps, bruised and bleeding,
many a one never to rise. But Badajoz persevered, and step by step
he climbed upward, sustained by reënforcements, till after two hours
of hard contest the summit was gained, first by Alférez Montaño.
Woe now to the defenders remaining! Not a Spaniard there but had
wounds to show, and not one who did not strive to exact blood for
blood. It was a repetition of the aerial combat of the year before on
the summit of the central temple. The Mexicans neither expected
mercy nor asked it; rather longed they to dedicate their last breath to
the gods, and gain by glorious death admission into the abode of the
blessed. By nine o’clock in the forenoon the two wooden towers
holding the altars and idols were gained, and the next moment
dense smoke columns rose to announce the victory of the
Spaniards.[1204] Loud rose the wail of the natives as they witnessed
the portentous result, and with the recklessness of despair they
renewed their onslaught, led by Axoquentzin and the Eagle captain,
Quachic. So severely pressed was Alvarado that he was obliged to
call down Badajoz and to concentrate his forces, abandoning the
several temples which surrounded the large pyramid. Encouraged by
this success the Mexicans pushed their advantage from all sides,
and unable to hold their position the Spaniards retired with
considerable loss, including three horses.[1205]
Nothing daunted, Alvarado repeated his entry on the following
day, and met with comparatively little opposition, the enemy being
evidently discouraged by the fall of the temple and the resolute
bearing of the Spaniards. He now passed through and came up to
Cortés’ party, by whom he was received with ringing and repeated
cheers. The latter had just captured the last canal and intrenchments
near the market-place, after a sharp struggle, and now the general
and his doughty lieutenant entered the market and ascended the
lofty pyramid, on which the royal banner waved a proud welcome,
while beside it the still impaled heads of white and dusky victims
recalled the bitter vengeance yet to be exacted. Surveying the city
beneath him on all sides, Cortés says: “It seemed undoubted that of
eight parts we had gained seven.” The late magnificent metropolis,
the finest and largest on all the northern continent, displayed now a
mass of ruins, through which the broad paths levelled by the
invaders led to the one corner which alone remained to the
besieged,[1206] wherein, amid famine, pest, and putrefying bodies,
they huddled in packed masses, sending forth from their midst the
groans of dying and loud lamentations, in an atmosphere so
pestiferous that the soldiers who entered the lately abandoned lanes
were almost stifled. People were found in different stages of hunger
and disease, meeting the soldiers with passive indifference in the
recklessness of despair. Beyond on the roofs stalked the warriors,
gaunt and yellow, like caged and starving beasts.
Cortés felt painfully oppressed on beholding so much misery,
and at once ordering a stay of hostilities he sent some captive chiefs
to Quauhtemotzin with peace proposals, showing the utter futility of
further resistance, which could involve only a needless infliction of
suffering and slaughter, and embitter against him and his the
besieging forces. He was prepared to forget all past animosity, and
respect the persons and property of the besieged, and his rights as
sovereign, and demanded in return only the renewal of allegiance
already offered in Montezuma’s time. Quauhtemotzin scarcely gave
the messengers time to speak, before he answered solemnly: “Tell
Malinche that I and mine elect to die. We will intrust ourselves
neither to the men who commit, nor to the God who permits, such
atrocities!”
 Struck by the lofty bearing of the doomed, and desirous of
securing the treasure which the besieged assured him would all be
cast into the water before his fingers should touch it, Cortés again
sent a proposal, formally attested by notary and witnesses, declaring
that the responsibility for the terrible consequences which must
follow the rejection of his offer would fall wholly on the besieged. But
all without avail. And when the priests came and declared the oracle,
“Appeased by sacrifice the gods have promised victory after three
days,” Quauhtemotzin made answer, his council being present: “It is
well. And since it is so, let us have a care of the provisions, and if
need be die fighting like men. Let no one henceforth speak of peace
under pain of death!”
Preparations were accordingly made to renew hostilities at the
designated time, on which occasion sacred relics were to be brought
into service from the paraphernalia of Huitzilopochtli, one a twisted
snake sceptre set with mosaic, called the Xiuhcoatl, which was said
to become alive when launched against the foe and terrify them to
flight; the other a war-dress of feathers tipped with an owl’s head of
fearful aspect, an ægis to scatter the enemy.[1207]
Cortés on his side was not impatient to break the truce, for he
knew that hunger and disease were efficiently fighting his battle, and
he was besides busy constructing in the market-place a catapult
which was to soon end his labors there whatever might be the further
decision of the Mexicans. The idea had been suggested by a soldier
named Sotelo, who boasted of military science acquired during the
Italian wars; and since powder was becoming scarce the necessary
carpenters were readily furnished to construct the machine.
“Behold!” cried the Tlascaltecs, pointing it out to the Mexicans,
“behold a monster mechanism which will quickly annihilate you!” But
on trial it proved a failure.
 Then messengers were again despatched to Quauhtemotzin to
talk of peace, and were told that they should have an answer soon.
Next day the Spanish sentinels observed a great commotion among
the Mexicans and a gathering of armed masses. They gave due
notice of this, but before the troops were fully prepared the enemy
came rushing from their retreats with a suddenness that threw the
first opposing lines in disorder, a number being wounded and several
killed, at least among the auxiliaries.[1208] The troops quickly rallied,
however, under cover of the artillery, and Cortés resolved to inflict
chastisement. Alvarado was ordered to attack a large ward
containing over a thousand buildings, while the remaining forces
should turn against the main quarter. Incited by the presence of the
mystic owl and the sacred snake-bearer, the Mexicans fought with
an indifference to fate that turned the war into a butchery. When the
survivors were driven back it was ascertained that over twelve
thousand Mexicans had been killed or captured.
The promised victory had proved a disastrous defeat, and even
the most hopeful Mexican sank into the depths of despair. This
feeling was greatly fostered by a strange occurrence about this time,
which the native records describe as a fiery whirlwind, resolving into
flames and sparks. It rose with great noise in the north, after sunset,
revolved over the doomed quarter and disappeared in the lake,
leaving the natives overwhelmed with apprehensions.[1209]
Their eyes were fully opened to the situation. And in pondering
on the dreadful past and present, the dreadful future became dim,
even its terrors growing every day fainter. They had been passive
under the pain of wounds and under hardships indescribable; but
when at last frenzied mothers and fathers seized upon their own
offspring to still the pangs of hunger over which sane minds no
longer had control; when others began furtively to look about for less
closely allied beings whereon to feed, then indeed a stranger and
more terrible fear came over them.[1210]
When Cortés returned with full force on the following day to
renew the fight, crowds of miserable beings came forth, repulsive in
their emaciated and haggard appearance, careless of their lives yet
clamoring for mercy and for bread. Moved by the appeal, he ordered
them not to be injured, and proceeded to answer certain chiefs who
had summoned him to a parley. “Son of heaven!” they cried, “within
one brief day and night the tireless orb returns. Why dost not thou
also finish thy task as quickly? Kill us, so that we may no longer
suffer, but enter paradise and join the happy throng already sent
thither!”[1211] He told them that in their hands was the remedy. They
had but to cease their insane opposition, and their suffering would
cease, for he would give them food and respect their persons and
property. No satisfactory answer was returned. They were evidently
afraid to speak of peace, though eager for it. Cortés felt convinced
that the emperor and a few leading nobles were the only persons
holding back, and willing to spare the people he again resolved on
an appeal.
A distinguished captive was prevailed on to carry this message
in order to give it more weight,[1212] and to use his influence with the
emperor. On appearing before Quauhtemotzin the noble began to
speak of the kind treatment he had received from the Spaniards.
Praise of this nature hardly accorded with the mood of the ruler or
with the views he wished to impart, and no sooner did the envoy
allude to peace than he was ordered away with an imperious sign to
the stone of sacrifice.[1213] Any fate for ruler and people was better
than to fall into the hands of Christian civilization. At the same time
the warriors faintly threw themselves against the Spaniards with
shouts of “Death or liberty!” The attack cost the besiegers a horse,
and several men were wounded, but the charge was easily repelled,
and was followed up by further slaughter. That night the allies
encamped within the city.
The following day Cortés again approached some nobles at an
intrenchment and asked, “Why remains the emperor so stubborn?
Why will he not come and speak with me, and stay the useless
slaughter of his subjects?” Bound by superstitious loyalty to their
ruler, weepingly they replied, “We know not; we will speak with him;
we can but die!” Presently they returned to say that Quauhtemotzin
would present himself in the market-place on the following noon.
Delighted, Cortés ordered a dais to be prepared on the raised
masonry platform recently used for the catapult, together with choice
viands. At the appointed hour the Spanish general appeared in state,
with the soldiers drawn up in line, ready to do honor to the
distinguished guest. After waiting impatiently for some time, they saw
five personages approach, who proved to be the bearers of excuses.
Quauhtemotzin could not come, but desired to learn the wishes of
Malinche.[1214]
Concealing his chagrin, Cortés caused the nobles to be
entertained, and then he sent them to their master with assurance of
good treatment; they soon returned with presents, and said the
emperor would not come. Again they were sent, and again their
efforts were unavailing. The truth is, Cortés desired with the monarch
to secure his treasure; else he would not long have stayed his
bloody hand. On the other hand, though Quauhtemotzin’s conduct
might be attributed to selfish obstinacy, he well knew that even for
his people death was to be scarcely more feared than capture; now
they might at once enter paradise, but the foreigners sought them
but to enslave.
The following day the five nobles again kept Cortés waiting with
a promise that the emperor would meet him. The hour having
passed without his appearance, the allies, who had been kept in the
background during the negotiations, were called forward and the
order was given for assault, Sandoval directing the fleet along the
shore and up the canals to the rear. “Since they will not have peace,
they shall have war!” cried Cortés. Then the carnage became fearful.
Spaniards and auxiliaries alike, two hundred thousand strong and
more, so it was said, abandoned themselves to the butchery, while
Satan smiled approval. In helpless despair, like cooped beasts in the
shambles, they received the death-blow as a deliverance.[1215] I will
not paint the sickening details so often told of chasms filled, and
narrow streets blockaded high with the dead bodies of the
unoffending, while down upon the living settled desolation. It must
indeed have been appalling when he who had brought to pass such
horrors writes: “Such was the cry and weeping of children and
women that not one amongst us but was moved to the heart.” Then
he attempts to throw upon the allies the blame of it. “Never,” he says,
“was such cruelty seen, beyond all bounds of nature, as among
these natives.” Already, before this massacre of forty thousand[1216]
the streets and houses were filled with human putridity, so that now
the Spaniards were forced to burn that quarter of the city to save
themselves from infection.
Another morrow engenders fresh horrors. The three heavy guns
are brought forward to assist in dislodging the besieged. Fearful lest
the emperor escape him in canoes, Cortés directs Sandoval to place
vessels on the watch for fugitives, particularly at the basin of
Tlatelulco,[1217] into which it is proposed to drive the besieged, there
to catch the king and nobles with their gold and jewels. Of a truth
Cortés does not wish to kill the miserable remnant of this so lately
proud race—particularly if thereby he loses the encaged treasure. So
he again appeals to them, and the Cihuacoatl,[1218] chief adviser of
the emperor, appears and is treated with great courtesy. After a time
he takes his departure, then for the first time declaring that
Quauhtemotzin will on no account present himself. “Return then,”
exclaims Cortés in ill-suppressed anger, “and prepare for death,
invoked, not by high and holy purpose, but by obstinate
timidity!”[1219]
Five hours are thus gained by the wily monarch for the escape of
the women and children, who pour out in swarms, the fainting
supported by the feeble, all emaciated and haggard, and many
marked by wounds or disease. Seeing which the allies pounce upon
them, all stricken and defenceless as they are, and murder them, to
the number of fifteen thousand. And the same number perish in the
fall of broken bridges, in the choked canals, and from the tread of
their fellow fugitives. How glorious is war! How noble the vocation!
How truly great the hero of such hellish deeds! Blush, oh sun! for
making such to-morrows; for lending thy light to human intelligence
by which to do such diabolical wickedness!
Observing no signs of surrender, Cortés opened fire with his
cannon and gave the signal of attack. Another massacre followed,
the Mexicans displaying the same apathy and sullen indifference to
death as on other late occasions. At some points, however, large
bodies surrendered, and the remaining Mexican quarters were fast
falling into the conqueror’s hands Sandoval on his side was closely
guarding the water front and preparing to coöperate. Entering the
harbor basin with a portion of the fleet, he bore down on the canoes
with a crash, upsetting the greater number, filled chiefly with nobles
and their families, of whom a large portion perished. The canoes
which escaped scattered in different directions, into canals and
corners, most of them however turning toward a nook of the basin
with the brigantines in hot pursuit. At this moment a few boats of
larger build emerged from a retreat at the other end and paddled
rapidly toward the open lake.
Warned by his commander to watch closely for the emperor,
Sandoval had not failed to observe the movement, and he
immediately directed García de Holguin, captain of the fastest
vessel, to overhaul the fugitives, who might be persons of note.
Aided both by sails and oars, Holguin speedily gained on them, and
they began to scatter in different directions, evidently with a view to
confuse him; but a captive on board indicated one as most likely to
contain the emperor.[1220] On approaching it the archers levelled
their cross-bows, whereupon a sign of surrender was made, with the
pleading cry that Quauhtemotzin was there. As the overjoyed
Holguin stepped down to secure his captives, among whom were the
young empress, the king of Tlacopan, and other prominent
personages,[1221] the monarch bade him respect his consort and his
retinue. As for himself, he was at his disposal.
Conducted by his captor, he passed along the streets to the
presence of the conqueror, the object of ten thousand eyes, for
rumor had preceded him. Men rested from the slaughter to gaze at
him. In the distance was heard the din of battle, but along the
captive’s path there fell a hush. His was a striking figure. The grave,
careworn face betokened suffering. He wore a dingy blood-stained
robe, and the pallor which overspread a naturally fair face was yet
more heightened by the feverish brilliancy of the eyes, now bent
dejectedly on the ground, now looking straight before him. He
walked with a firm step, and young as he was, the majestic dignity of
the prince and leader impressed every beholder. “He was quite a
gentleman,” graciously affirms Bernal Diaz. Cortés had stationed
himself on the roof of a high building in the Amaxac ward,[1222]
thence to direct operations, and now he caused a dais to be
prepared, and a table with refreshments. When the emperor
approached the guard drew up in line, and the general advanced
with benign dignity and led him to a seat by his side. “Malinche,” said
the captive, “I have done all within my power for the defence of my
people, but the gods have not favored me. My empire is gone, my
city is destroyed, and my vassals are dead. For what have I to live?
Rid me therefore of worthless existence.”[1223] Saying this, with his
hand he touched a dagger in the belt of Cortés. The general sought
to reassure him, declaring that none could resist the Christian’s God.
He had performed his duty bravely, like a good prince, and should be
treated as such.
Although the great end was thus accomplished, slaughter and
pillage were continued until long after vespers. Before the troops
withdrew to their respective camps, the prisoners, including the
pretty empress, Tecuichpo, were conducted to safe quarters in
Coyuhuacan. Shortly afterward a rain set in, aiding the efforts of the
Spaniards to check the auxiliaries in their maraudings, and this,
developing toward midnight into a furious storm with lightning and
thunder, seemed to the homeless Mexicans to be the xiuhcoatl of
Huitzilopochtli and the tumult of departing deities. To the conquerors
this flashing and thundering of heaven’s artillery was the salvo
attending victory, which was celebrated in feasting and merriment till
came late slumber with visions of gold, and lands, and vassals.
Thus ended Tuesday, the 13th of August 1521, sacred to St
Hippolytus, and accordingly adopted by the conquerors as patron
saint of the city. During colonial régime the day was annually
celebrated by a solemn festival, wherein the leading citizens and
officials rode on horseback in procession round the city, headed by
the viceroy and the alférez mayor bearing a banner commemorative
of the conquest.[1224] For seventy-five days consecutively, says
Cortés,[1225] the siege had been wreathing its coils midst almost
hourly scenes of bloodshed, wherein nearly one thousand Spaniards
and two hundred times that number of allies had taken part, one
hundred or thereabout of the former falling, and many thousands
among the latter.[1226]
As for the Mexicans, most of the early authorities assert that fully
one hundred thousand perished, besides those who died from pest
and famine.[1227] At the order of their sovereign, after the
proclamation of peace, the miserable remnant began to evacuate
their pest-holes, and to seek the fields adjacent, now lustrous green
under refreshing rains. Ah! it was pitiful, life to them now, this world a
great charnel-house filled with the bones of their loved ones, and
their hearts dead though still bleeding. What were their sins more
than those of others, that they should be so stricken, that they should
be so ground to the dust while the conquerors flushed with victory
were exulting before God because he had so ordered and
accomplished? They had sacrificed human beings on the altars of
their gods, sixty thousand in one year, some said. But what were
these butcheries of the Spaniards but human sacrifices, of more than
six times sixty thousand in one year! Behold them as they file along
the causeway, the very sun striking black and stifling on their famine-
stricken forms and agonized faces. On them, then, ye conquerors!
Complete your work; for in its swift continuance is their earliest rest!
[1228]

The 14th of August the troops entered the surrendered quarters

to review their work and its results. “I swear,” writes Bernal Diaz,
“that the lake and houses and abodes were so full of bodies and
heads of dead men that I am unable to convey an idea thereof; for in
the streets and courts of Tlatelulco there were no other things, and
we could walk only amidst dead bodies.”[1229] Many became sick
from the stench, and Cortés ordered fires to be lighted to purify the
air. Natives were sent to bring forth the dead, and with them went
Spaniards seeking for gold, silver, precious stones, and plumage,
leaving textile fabrics and other less valued effects to the allies; but
the quantity known to have been obtained fell far below their
extravagant expectations, and in their disappointment the soldiers
searched the persons of fugitives, looking into their very mouths for
hidden gold, says a native record. Bernal Diaz complains that the
brigantine crews had already plundered the wealthiest persons, who
were in the canoes, and had sacked the treasure-houses while the
others were fighting. They in their turn affirmed that the Mexicans
had cast their treasures into the lake. The mysterious depths harbor
many secrets, and beneath the waters, round the famed city of the
Aztecs, tradition still places glittering deposits of untold extent.
Three or four days after the fall, Cortés passed over to
Coyuhuacan with the greater part of his forces, there more formally
to celebrate the end of the siege in banqueting and thanksgiving. A
feature of the performance was a solemn procession by all the
soldiers, bareheaded, with banners, raising their voices in praise to
God, who had given them the victory, and who was so soon to be
worshipped from gulf to southern sea.[1230]
The services of the allies being at present no longer needed,
Cortés assembled them to speak farewell. He dwelt in flattering
terms on their brave and effective deeds. He promised they should
be duly represented to his majesty, who would reward them with
singular privileges. To the chiefs were then given shields, robes, and
other articles, with promises of more lands and vassals. Then they
went their way, happy in their slaves and spoils, happy in the thought
of humbled foe, happy in the promises of the Spaniards; they did not
know, poor simpletons, that all along the days and nights of this
terrible siege, with sword and lance on Aztec breast, they had been
forging their own fetters, which they and their children long must
wear.[1231]
The conquest of Mexico was less a subjugation by Spanish
soldiers than their skilful manœuvring of New World forces against
one another. Had Anáhuac been united it would have succumbed
less readily, perhaps never. As it was, while the native nations were
slaying each other, fighting out their ancient feuds, the astute
Spaniards laid their all-possessing hand upon the country.
 Nor was any apology on their part needed before Christendom.
Mankind to this day have not become so humane and just as not to
find excuse for any wrong within the realms of strength and
inclination. What then could be expected of an age and nation
wherein it was not uncommon to cloak crime under the fair garb of
religion. Hitherto came the Spaniards to murder and to rob: to rob
and murder in the name of charity and sweet heaven. No excuses
were necessary, however convenient to that end came the appeals
of the Cempoalans groaning under terrible oppression at the hand of
a race delighting in blood and extortion; a race which within two
centuries had risen from a degrading servitude largely by means of
intrigue and treachery; a race stamped with ignoble characteristics
born of serfdom, and eager to retaliate on others for their past
humiliation, yet energetic, enterprising, and advancing with rapid
strides along the pathway of indigenous culture. Ambitious to rule,
they sent their armies to bring province after province under the
yoke. Rapacious collectors followed to press the substance out of
the people, for the appetite of themselves and their masters.
Confiscation, enslavement, and desolation marched in the train, and
the fairest hopes of the land were dragged away in bondage, and to
bleed on the stone of sacrifice.
To all these appalling evils the Totonacs, among others, were
exposed, when soldiers appeared on their shores bearing aloft the
symbol of charity, of deliverance. The crushed family appealed to
them, also the writhing slaves, for from the altars of hideous idols
rose the dying shrieks of youths and maidens. But a short time
before knights of different orders swarmed over Europe, the
professed champions of the oppressed; and the spirit of the
crusaders still lingered in Spain, in form if nothing more; and what
Christian soldier could unheedingly view such outrages!
Montezuma and his people were inhuman monsters, and
Grotius, Montesquieu, and others who should know, say that war in