Homework Answers
Stockholder's equity December 31, 2018 = Total assets, December 31, 2018 - Total liabilities, December 31, 2018
= 108,210-68,921
= $39,289
Stockholder's equity December 31, 2018 = Stockholder's equity December 31, 2017 + Common stock issuances + Net income - Dividends
39,289 = Stockholder's equity December 31, 2017 + 12,000+6,488-450
Stockholder's equity December 31, 2017 = $21,251
Total assets, December 31, 2017 = Stockholder's equity December 31, 2017 + Total liabilities, December 31, 2017
= 21,251+71,912
= $93,163
Kindly comment if you need further assistance. Thanks‼!
Add Answer to:
Calculate missing information using knowledge of the accounting equation, II: Below is some selected information from...
1 1 3 931 064515,879 $209,113 $184,750 $24.261 TE=Net Income - Rev SE Assetj Liabilities =...
1 1 3 931 064515,879 $209,113 $184,750 $24.261 TE=Net Income - Rev SE Assetj Liabilities = -15,879 -435,210 = -451,089 209,113 - 194750 - 24,363 3. Calculate missing information using knowledge of the accounting equation, ll: Below is some selected information from the financial statements of Vance Refrigeration. Calculate the missing amount for total assets as of 12/31/17. You must show all of your work to receive full credit. $72 $71,912 Balance as of December 31, 2017: Total Assets Total...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company A B Company с Company D $44,000 36,080 $ 34,320 24,024 $ 28,160 15, 206 $78,320 $ 120, 120 54,040 ? Dets December 31, 2016 Assets Liabilities comber December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (loss) Owner cash withdrawals 49,000...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (los) Owner cash withdrawal Company Company Company Company Company A B c D E $44,000 $34,320 $28,160 $ 79,320 $120,120 36,080 24,024 15,206 54,040 ? 49,000 35,280 ? 89, 180 135,240...
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following...
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company Company A B с D Company E December 31, 2016 Assets $ 44,000 36,080 $ 34,320 24,024 $ 28,160 15,206 $78,320 54,040 $ 120, 120 ? 49,000 ? 35, 280 23,990 ? 16,086 89, 180 42,806 135, 240 106,839 Liabilities December 31, 2017 Assets...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information applies to the questions displayed below The following financial statement information Is from five separate companies: Company Company Company Company Company December 31, 2816 $36,000 $28,088 $23,eab $64,080 $ 98,280 Assets Liabilities sk 29,528 19,656 12,441 44,215 December 31, 2017 74,620 113,16e 20,073 13,460 35,817 89,396 rint Assets Liabilities 41,880 29,528 During year 2017 Owner investments Net income (loss) Owner cash withdravals 3,580 2,800...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,200 $ Current assets 5,275 5,315 Non-current assets 8,667 8,721 8,968 14,040 14,351 Total assets Liabilities Current liabilities 3,420 3,467 3,517 Non-current liabilities 5,231 5,335 5,454 Total liabilities 8,929 8,630 8,683 Stockholders' Equity Common stock 138 139 142 Additional paid-in capital 2,216 2,247 2,296 Contributed capital...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
WCUCCICUCULUM Required Information The following information applies to the questions displayed below] The accounting records of...
WCUCCICUCULUM Required Information The following information applies to the questions displayed below] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 Cash Accounts receivable Office supplies Office equiptent Trucks Building Land Accounts payable Note payable 2018 $ 64,300 26,240 3,160 44,000 148,000 2019 5 15,640 19,100 1.968 44,00 157,00 80,000 60,000 33,500 40.000 @ 3.500 Required: 1. Prepare balance sheets for the business as of December 31, 2018...
Required information The following information applies to the questions displayed below. The accounting records of Nettle...
Required information The following information applies to the questions displayed below. The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 s 46,070 7,51 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 25,007 19,606 2,889 121,093 128,987 47,385 56,385 157,962 0 39,418 65,74532,608 97,380 3,945 Required 1. Prepare balance sheets for the business as of December 31, 2016 and 2017. (Hlint: Report only total equity...
1 1 3 931 064515,879 $209,113 $184,750 $24.261 TE=Net Income - Rev SE Assetj Liabilities = -15,879 -435,210 = -451,089 209,113 - 194750 - 24,363 3. Calculate missing information using knowledge of the accounting equation, ll: Below is some selected information from the financial statements of Vance Refrigeration. Calculate the missing amount for total assets as of 12/31/17. You must show all of your work to receive full credit. $72 $71,912 Balance as of December 31, 2017: Total Assets Total...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company A B Company с Company D $44,000 36,080 $ 34,320 24,024 $ 28,160 15, 206 $78,320 $ 120, 120 54,040 ? Dets December 31, 2016 Assets Liabilities comber December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (loss) Owner cash withdrawals 49,000...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Owner investments Net income (los) Owner cash withdrawal Company Company Company Company Company A B c D E $44,000 $34,320 $28,160 $ 79,320 $120,120 36,080 24,024 15,206 54,040 ? 49,000 35,280 ? 89, 180 135,240...
! Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 (The following information applies to the questions displayed below.) The following financial statement information is from five separate companies: Company Company Company Company A B с D Company E December 31, 2016 Assets $ 44,000 36,080 $ 34,320 24,024 $ 28,160 15,206 $78,320 54,040 $ 120, 120 ? 49,000 ? 35, 280 23,990 ? 16,086 89, 180 42,806 135, 240 106,839 Liabilities December 31, 2017 Assets...
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information applies to the questions displayed below The following financial statement information Is from five separate companies: Company Company Company Company Company December 31, 2816 $36,000 $28,088 $23,eab $64,080 $ 98,280 Assets Liabilities sk 29,528 19,656 12,441 44,215 December 31, 2017 74,620 113,16e 20,073 13,460 35,817 89,396 rint Assets Liabilities 41,880 29,528 During year 2017 Owner investments Net income (loss) Owner cash withdravals 3,580 2,800...
Required: Following is selected information from the balance sheet for Flaps Inc. Solve for the missing amounts for each of the five years. Flaps Inc. Balance Sheet Year 2016 2017 2018 2019 2020 Assets 5,200 $ Current assets 5,275 5,315 Non-current assets 8,667 8,721 8,968 14,040 14,351 Total assets Liabilities Current liabilities 3,420 3,467 3,517 Non-current liabilities 5,231 5,335 5,454 Total liabilities 8,929 8,630 8,683 Stockholders' Equity Common stock 138 139 142 Additional paid-in capital 2,216 2,247 2,296 Contributed capital...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
WCUCCICUCULUM Required Information The following information applies to the questions displayed below] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 Cash Accounts receivable Office supplies Office equiptent Trucks Building Land Accounts payable Note payable 2018 $ 64,300 26,240 3,160 44,000 148,000 2019 5 15,640 19,100 1.968 44,00 157,00 80,000 60,000 33,500 40.000 @ 3.500 Required: 1. Prepare balance sheets for the business as of December 31, 2018...
Required information The following information applies to the questions displayed below. The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 s 46,070 7,51 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 25,007 19,606 2,889 121,093 128,987 47,385 56,385 157,962 0 39,418 65,74532,608 97,380 3,945 Required 1. Prepare balance sheets for the business as of December 31, 2016 and 2017. (Hlint: Report only total equity...
Most questions answered within 3 hours.
-
In Netherland Dwarf rabbits, dwarf size is determined by allele
N, and normal-size by allele n....
asked 25 seconds ago -
During Heaton Company’s first two years of operations, it
reported absorption costing net operating income as...
asked 14 minutes ago -
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 17 minutes ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 25 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 25 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 31 minutes ago -
how
to use a for loop to iterate over the string below and print each
character...
asked 33 minutes ago -
Please type answer, Thanks.
Respond to the following in a minimum of 175
words:
Research industry...
asked 32 minutes ago -
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 42 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 48 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 59 minutes ago -
A manufacturer wished to compare the wearing qualities of two
different types of automobile tires, A...
asked 57 minutes ago