Homework Answers
(a)
Liabilities = 90,000
Share capital = 156,000
Dividends = 84,000
Revenues = 446,000
Expenses = 320,000
Retained earnings = Revenues - Expenses - Dividends
= 446,000 - 320,000 - 84,000
= 42,000
Stockholders' equity = Share capital + Retained earnings
= 156,000 + 42,000
= 198,000
Total assets = Liabilities + Stockholders' equity
= 90,000 + 198,000
= 288,000
(b)
Total assets = 57,000
Share capital = 15,000
Dividends = 7,000
Revenues = 45,000
Expenses = 29,000
Retained earnings = Revenues - Expenses - Dividends
= 45,000 - 29,000 - 7,000
= 9,000
Stockholders' equity = Share capital + Retained earnings
= 15,000 + 9,000
= 24,000
Total assets = Liabilities + Stockholders' equity
57,000 = Liabilities + 24,000
Liabilities = 33,000
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