Question

LO 2 tors receiver Asle tele de lu legal fees or other costs of liquidation.) Exercise 1-8A) Missing information in the accounting equation Required Calculate the missing amounts in the following table. Company Assets Liabilities Stockholders' Equity Common Retained Stock Earnings $ 50,000 $62,000 10,000 25,000 40,000 100,000 $30,000 $? 50,000 85,000 215,000 20,000 60,000

Answer 1

Company Stockholders' Equity Common Il Retained Amets El Liabilities + Stock It Earnings & 142,000 $30,000 + $50,000 + $ 62,000 B $ 50,000 = $ 15,000 + $ 10,000 It $25,000 C $85,000 = $20,000 + $ 25,000 + $40,000 D $215,000 $60,000 + $ 100,000 + $55,000 calculation: Assets = liabilities et common Stock & Retained Earnings Company A: Assets = $30,000 & $50,000 & $62,000 Assets - $ 142,000 Company Bi Assets & liabilities & Common Stock & Retained Earnings $ 50,000 = habilities & $10,000 & $25,000 $50,000 = Liabilities & $35,000 Liabilities & $50,000 - $35,000 Liabilities & $ 15,000

company : Assets u habilities & common stockt Retained Earnings $ 85,000 = $20,000 t common stock & $ 40,000 $ 85,000 = $60,000 ot common stock $85,000 - $60,000 = common stock Common stock = $25,000 Company Di Assets = liabilities & Common stock & Retained Earnings $215,000 = $60,000 & $100,000 & Retained Earnings $215,000 a $160,000 & Retained Earnings Retained earnings = $215,000 - $160,000 Retained Earnings - $55,000