Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000...

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Income Statement Statement of Stockholders Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,00

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Answer 1

Answer #1


	The computaion is as follow:

	First we go with #35 Issuance of common stock
	General formula for closing stock is opening of stock+ Issues
	So, Issues= closing i.e; ending of stock minus opening of stock
	Therefore, Issuance of stock= $500000-$450000=$50000

	#36 Dividends
	1.Technically first we arrive the gross profits and then net profits
	From the net profits we distribute dividends.
	Retained earning are the those earnings after distribution of profits which will be maintained for future purpose
	Generally companies transfer some portion of net income to retained earnings every year.
	Here closing and opening retained earnings are given
	Current retained earnings= Opening+(net income-dividend)= ending retained earnigs
	Therefore, Opening-ending retained earnings+net income= dividend
	By substituting the figures in the above formula= $321000-501000+210000
	#36 Dividends= $30000

	#33 Revenue
	For calculating the revenue here is by doing reverse approach, first add all the expenses given and then add
	net income given in the statement of shareholder's equity
	General formula for revenue is Total revenue minus expenses= net income
	So, revenue= expenses+net income
	Expenses (1)= 456000+245000+8000+709000=1418000
	Net Income (2) Given = 210000
	#33 Revenue= $ 1628000

	#34 Net income = Total revenue (calculated above) minus total expenses
			$1628000-1418000
			$210,000

	# Common stock is ending stock i.e; $500000
	# Retained earnings is $ 501000

	#39 Total Share holder's equity
	Formula for share holders equity = Common stock+ Retained earnings
	Therefore Total share holder's equity= $500000+$501000=$1001000

	#40 Total Liabilities and Share holder's equity
	Formula= Total Liabilities+ Total share holder's equity
	Therefore $ 264000+1001000= $1265000

	# 38 Total Assests
	Formula for total assets= Total liablilities+Shareholder's equity
	Therefore Total assets = $1265000

	#37 Supplies
	To find out the supplies subtract all the figures in the assets side from total assets computed in the above
	Therefore, $1265000-(25000+30000+2000+207800+1000000)
	$1265000-1264800
	$200

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Answer 2

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