Homework Answers
The above question can be solved using the below accounting equation.
assets = liabilities + equity (common stock + retained earnings)
The highlighted figues in red are the missing numbers which were asked to calculated
| Amethyst Corp. | Lance Co. | Broom Inc. | |
| beginning | Amounts in $ | ||
| assets | 83 | 44 | 22 (difference) |
| liabilities | 46 | 20 | 7 |
| common stock | 5 | 3 | 5 |
| retained earnings | 32 (difference) | 21 | 10 |
| ending | |||
| assets | 87 (solved accounting equation) | 64 | 24 |
| liabilities | 47 | 32 | 6 (difference) |
| common stock | 5 | 7 (difference) | 7 |
| retained earnings | 35 | 25 (taken from below) | 11 |
| income statement | |||
| revenue | 229 | 170 (difference) | 36 |
| less:expenses | -217 | -146 | -29 (difference) |
| net income | 12 (difference) | 24 | 7 |
| statement of retained earnings | |||
| beginning retained earnings | 32 | 21 | 10 |
| add:net income | 12 (difference) | 24 | 7 |
| less:dividend | -9 | -20 | -6 |
| ending retained earnings | 35 | 25 | 11 |
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13 Questi 1 i Data Table fin - Amethyst Corp. Lance Co. Broom, Inc. mi 83...
ㄧㄨ i Data Table Sapphire Co. Lars, Inc. Barb Corp. Beginning 40 23 4 13 79...
ㄧㄨ i Data Table Sapphire Co. Lars, Inc. Barb Corp. Beginning 40 23 4 13 79 $ 51 5 Common stock Retained earnings.. 14 Ending 60 $ 24 Assets .. Liabilities Common stock... Retained earnings 53 32 Income Statement 225 2 $ 34 Revenues Expenses Net income 213 158 Print Done We were unable to transcribe this imageWe were unable to transcribe this imageStatement of retained earnings Beginning RE + Net income.... 13 S 28 22 $ 14 (24) 32...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23 Common stock 5 27 Retained earnings 18 4 Ending 83 $ 62 $ Assets 17 Liabilities 49 35 16 Common stock 3 11 14 Retained earnings 28 Income statement Enter any number in the edit fields and then click Check Answer. CO 49 Liabilities 35 16 Common stock 6. 11 14 Retained earnings 28 Income statement Revenues 227 30 211 156 Expenses 16 Net...
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp....
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp. Beginning Assets Liabilities Common stock Retained earnings 76 $ 49 2 35 23 6 6 3 4 17 Ending 55 $ Assets Liabilities Common stock 26 51 35 2 4 Common stock.. . 2 4 Retained earnings 31 Income statement 224 214 38 Revenues Expenses Net income 150 Statement of retained earnings Beginning RE 25 $ 17 + Net income 26 7 (21) Dividends...
The records of Meehan Company show the following at December 31, 2018: '(Click the icon to...
The records of Meehan Company show the following at December 31, 2018: '(Click the icon to view the data.) 3. Print Read the requirements. Requirement 1. Compute the missing amount for Meehan Company. You will need to determine Retained Eamings, December 31,2018, and total stockholders' equity, December 31,2018. Begin by determining total stockholders' equity. Rework the accounting equation and then solve for stockholders' equity ("equity") at the beginning and end of the period. (1) (2) Equlty Beginning Ending Identify the...
Data Table Loving Corporation Income Statement Year Ended December 31, 2018 (millions) Net sales 410 Expenses...
Data Table Loving Corporation Income Statement Year Ended December 31, 2018 (millions) Net sales 410 Expenses Net income (loss) Loving Corporation Statement of Retained Earnings Year Ended December 31, 2018 (millions) Beginning retained earnings Net income Cash dividends declared Ending retained earnings Loving Corporation Print Done Data Table Ending retained earnings Loving Corporation Balance Sheet December 31, 2018 (millions) Assets Cash All other assets Total assets Liabilities Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities...
BUSI1043 Unit 1-Practice Questions Question 1 ormation. Hint:in Identify the financial statement in which decision makers...
BUSI1043 Unit 1-Practice Questions Question 1 ormation. Hint:in Identify the financial statement in which decision makers can find the following information some cases, more than one statement will report the needed data Current Assets Current Liabilities Common shares Office Supplies Accounts Payable Sales Revenue Salaries Expense Net Income Dividends Retained Earnings Question 2 Requirement 1: Fill in the missing amounts which correspond with a letter. Pure Air Beginning Assets S98 Liabilities Common shares Retained earnings 560 Ending Assets Liabilities Common...
I need help with 11-14 Use the following to answer questions 11 - 14 TR Corp...
I need help with 11-14
Use the following to answer questions 11 - 14 TR Corp reports the following amounts at the end of the year: Common stock Expenses Assets Revenues Dividends $300,000 250,000 900,000 395,000 100,000 425,000 Liabilities Calculate net income. Calculate stockholders' equity at the end of the period. Calculate ending retained earnings: 14. $_ - _Calculate beginning retained earnings:
please answer. im having trouble. Relationship #2 Beginning Retained Earnings Relationship #1 Relationship #3 Assets 238,000...
please answer. im having trouble.
Relationship #2 Beginning Retained Earnings Relationship #1 Relationship #3 Assets 238,000 Revenues 34,500 ৪4,500 Liabilities Net Income Expenses Dividends 19,500 133,500 Common Stock 41,500 Net Income Retained Earnings Ending Retained Earnings wk nt Required: 1. Complete the table below based on your results: ences Revenues Beginning Retained Earnings Net Income (Relationship #2) Liabilities Retained Earnings (Relationship W3)
ABC Corp had the following financial data related to the year-end 2018 and 2019. Prepare the...
ABC Corp had the following financial data related to the year-end 2018 and 2019. Prepare the Statement of Cash Flows, as of December 31, 2019, for ABC Corp. Comparative Balance Sheet Data ABC Corp Balance Sheet December 31 2019 2018 Cash $ 142,740 $ 46,080 Accounts Receivable 126,360 58,800 Inventories 146,250 123,420 Long-term Investments 111,800 112,800 Equipment, net 286,000 228,600 $813,150 $ 569,700 Accounts Payable $ 130,000 $ 80,760 Income Tax Payable 21,450 20,400 Bonds Payable 97,500 132,000 Common...
i Data Table Total revenue. . .. S Common stock... Interest expense. . . . Salary...
i Data Table Total revenue. . .. S Common stock... Interest expense. . . . Salary and other employee expenses .. Long-term liabilities. . . 37.9 Investment assets (long-term). . S 135.2 1.8 5.5 16.3 15.4 1.7 10.1 0.6 Property and equipment, net 2.6 Other expenses... 29.3 Retained earnings, beginning.. 0.7 Retained earnings, ending. 13.6 Cash . . . 102.1 Other assets (long-term) PrintDone Data Table Jill Carlson Realty Company Balance Sheet August 31, 2016 (Millions) Assets Liabilities S 1.7...
ㄧㄨ i Data Table Sapphire Co. Lars, Inc. Barb Corp. Beginning 40 23 4 13 79 $ 51 5 Common stock Retained earnings.. 14 Ending 60 $ 24 Assets .. Liabilities Common stock... Retained earnings 53 32 Income Statement 225 2 $ 34 Revenues Expenses Net income 213 158 Print Done We were unable to transcribe this imageWe were unable to transcribe this imageStatement of retained earnings Beginning RE + Net income.... 13 S 28 22 $ 14 (24) 32...
Lally, Inc. Ruby Co. Bryant Corp. Beginning 43 $ 15 81 $ Assets Liabilities 48 23 Common stock 5 27 Retained earnings 18 4 Ending 83 $ 62 $ Assets 17 Liabilities 49 35 16 Common stock 3 11 14 Retained earnings 28 Income statement Enter any number in the edit fields and then click Check Answer. CO 49 Liabilities 35 16 Common stock 6. 11 14 Retained earnings 28 Income statement Revenues 227 30 211 156 Expenses 16 Net...
For each of the companies, determine the missing amounts ("?") Emerald Co. Lally, Inc. Bailey Corp. Beginning Assets Liabilities Common stock Retained earnings 76 $ 49 2 35 23 6 6 3 4 17 Ending 55 $ Assets Liabilities Common stock 26 51 35 2 4 Common stock.. . 2 4 Retained earnings 31 Income statement 224 214 38 Revenues Expenses Net income 150 Statement of retained earnings Beginning RE 25 $ 17 + Net income 26 7 (21) Dividends...
The records of Meehan Company show the following at December 31, 2018: '(Click the icon to view the data.) 3. Print Read the requirements. Requirement 1. Compute the missing amount for Meehan Company. You will need to determine Retained Eamings, December 31,2018, and total stockholders' equity, December 31,2018. Begin by determining total stockholders' equity. Rework the accounting equation and then solve for stockholders' equity ("equity") at the beginning and end of the period. (1) (2) Equlty Beginning Ending Identify the...
Data Table Loving Corporation Income Statement Year Ended December 31, 2018 (millions) Net sales 410 Expenses Net income (loss) Loving Corporation Statement of Retained Earnings Year Ended December 31, 2018 (millions) Beginning retained earnings Net income Cash dividends declared Ending retained earnings Loving Corporation Print Done Data Table Ending retained earnings Loving Corporation Balance Sheet December 31, 2018 (millions) Assets Cash All other assets Total assets Liabilities Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities...
BUSI1043 Unit 1-Practice Questions Question 1 ormation. Hint:in Identify the financial statement in which decision makers can find the following information some cases, more than one statement will report the needed data Current Assets Current Liabilities Common shares Office Supplies Accounts Payable Sales Revenue Salaries Expense Net Income Dividends Retained Earnings Question 2 Requirement 1: Fill in the missing amounts which correspond with a letter. Pure Air Beginning Assets S98 Liabilities Common shares Retained earnings 560 Ending Assets Liabilities Common...
I need help with 11-14
Use the following to answer questions 11 - 14 TR Corp reports the following amounts at the end of the year: Common stock Expenses Assets Revenues Dividends $300,000 250,000 900,000 395,000 100,000 425,000 Liabilities Calculate net income. Calculate stockholders' equity at the end of the period. Calculate ending retained earnings: 14. $_ - _Calculate beginning retained earnings:
please answer. im having trouble.
Relationship #2 Beginning Retained Earnings Relationship #1 Relationship #3 Assets 238,000 Revenues 34,500 ৪4,500 Liabilities Net Income Expenses Dividends 19,500 133,500 Common Stock 41,500 Net Income Retained Earnings Ending Retained Earnings wk nt Required: 1. Complete the table below based on your results: ences Revenues Beginning Retained Earnings Net Income (Relationship #2) Liabilities Retained Earnings (Relationship W3)
i Data Table Total revenue. . .. S Common stock... Interest expense. . . . Salary and other employee expenses .. Long-term liabilities. . . 37.9 Investment assets (long-term). . S 135.2 1.8 5.5 16.3 15.4 1.7 10.1 0.6 Property and equipment, net 2.6 Other expenses... 29.3 Retained earnings, beginning.. 0.7 Retained earnings, ending. 13.6 Cash . . . 102.1 Other assets (long-term) PrintDone Data Table Jill Carlson Realty Company Balance Sheet August 31, 2016 (Millions) Assets Liabilities S 1.7...
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