Homework Answers
2.
Total amount of liabilities on Dec. 31, 2014 = Total assets, Dec.31, 2014 - Paid in capital, December 31, 2014 - Retained earnings on Dec. 31, 2014
= 455,000 - 87,000 - 211,000
= $157,000
Total amount of liabilities on Dec. 31, 2014 = $157,000
Correct option is (C)
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December 31 statements of financial position of Maple Leaf
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2015
2014
Total assets
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Total liabilities
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A.
2015
2014
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$
$
B.
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year.
Equation:
Shareholders,' equity, Assets, Liabilities
=
Liabilities, Assets , Current liabilities
+
Assets, Shareholders' equity,...
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Step by step solution needed for each part with answers thanks
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The following amounts (in thousands) were taken from the
December 31 statements of financial position of Maple Leaf
Foods Inc.:
2015
2014
Total assets
$2,630,865
$2,876,490
Total liabilities
577,731
631,994
How much is Maple Leaf Foods’ shareholders’ equity at December
31, 2015, and 2014?
A.
2015
2014
Maple Leaf Foods’ shareholders’ equity
$
$
B.
Write Maple Leaf Foods’ accounting equation for each
year.
Equation:
Shareholders,' equity, Assets, Liabilities
=
Liabilities, Assets , Current liabilities
+
Assets, Shareholders' equity,...
Step by step solution needed for each part with answers thanks
☺
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