Homework Answers
Firm A
Retained earnings 12/31/19 = Retained earnings, 1/1/19 + Net Income - Dividends
= 65,000+88,400-15,600
= $137,800
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid in capital, 12/31/19 + Retained earnings 12/31/19
= 104,000+71,500+137,800
= $313,300
Firm B
Retained earnings 12/31/19 = Retained earnings, 1/1/19 + Net Income - Dividends
241,800 = 161,200 + 143,000 - Dividends
Dividends = $62,400
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid in capital, 12/31/19 + Retained earnings 12/31/19
565,500 = Total liabilities, 12/31/19 + 76,700+241,800
Total liabilities, 12/31/19 = $247,000
Firm C
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid in capital, 12/31/19 + Retained earnings 12/31/19
676,000= 266,500+182,000+Retained earnings 12/31/19
Retained earnings 12/31/19 = $227,500
Retained earnings 12/31/19 = Retained earnings, 1/1/19 + Net Income - Dividends
227,500 = Retained earnings, 1/1/19 + 105,300- 36,400
Retained earnings, 1/1/19 = $158,600
| Firm A | Firm B | Firm C | |
| Total assets, 12/31/19 | 313,300 | 565,500 | 676,000 |
| Total liabilities, 12/31/19 | 104,000 | 247,000 | 266,500 |
| Paid in capital, 12/31/19 | 71,500 | 76,700 | 182,000 |
| Retained earnings, 12/31/19 | 137,800 | 241,800 | 227,500 |
| Net Income for 2019 | 88,400 | 143,000 | 105,300 |
| Dividends declared and paid during 2019 | 15,600 | 62,400 | 36,400 |
| Retained earnings, 1/1/19 | 65,000 | 161,200 | 158,600 |
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The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 565,500 Firm C $ 676,000 266,500 182,000 104,000 71,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 76,700 241,800 143,000 88,400 15,600 65,000 105,300 36,400...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 261,000 Firm C $ 312,000 123,000 84,000 48,000 33,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 35,400 111,600 66,000 40,800 7,200 30,000 48,600 16,800...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 391,500 Firm C $ 468,000 184,500 126,000 72,000 49,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net Income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 53,100 167,400 99,000 61,200 10,800 45,000 72,900 25,200...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B 348,000 $ Firm C $ 416,000 164,000 64,000 44,000 112,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 47,200 148,800 88,000 64,800 22,400 9,600 40,000 99,200
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 478,500 Firm C $ 572,000 225,500 154,000 88,000 60,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 64,900 204,600 121,000 74,800 13,200 55,000 89,100 30,800...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm C $ 572 000 $ 478.500 1 88,000 60,500 225,500 154,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 64,900 204,600 121,000 74,800 13,200 55,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm B $ 541,000 149,000 Firm C $ 322,000 $ 402,000 223,000 88,000 44,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 300,000 84,000 13,000 45,000 74,000 115,000 72,000 45,000
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 652.500 Firm C S 780,000 307 500 120.000 82,500 210,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 88,500 279,000 165,000 121,500 102,000 18.000 75,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Firm A Firm B Firm C Total assets, 12/31/19 $337,400 $609,000 $728,000 Total liabilities, 12/31/19 112,000 266,000 287,000 Paid-in capital, 12/31/19 77,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. 1.11 Required: Calculate the missing amounts for each firm. points O Answer is complete but not entirely correct. Firm A Firm B Firm C Total assets, 12/31/19 $ 418,000 $547,000 $ 330,000 Total liablities, 12/31/19 217,000 134,000 194,000 Paid-in capital, 12/31/19 111,000 O 89.000 38,000 Retained earnings, 12/31/19 Net income for 2019 112,000 O 302,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 565,500 Firm C $ 676,000 266,500 182,000 104,000 71,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 76,700 241,800 143,000 88,400 15,600 65,000 105,300 36,400...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 261,000 Firm C $ 312,000 123,000 84,000 48,000 33,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 35,400 111,600 66,000 40,800 7,200 30,000 48,600 16,800...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 391,500 Firm C $ 468,000 184,500 126,000 72,000 49,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net Income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 53,100 167,400 99,000 61,200 10,800 45,000 72,900 25,200...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B 348,000 $ Firm C $ 416,000 164,000 64,000 44,000 112,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 47,200 148,800 88,000 64,800 22,400 9,600 40,000 99,200
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 478,500 Firm C $ 572,000 225,500 154,000 88,000 60,500 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 64,900 204,600 121,000 74,800 13,200 55,000 89,100 30,800...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm C $ 572 000 $ 478.500 1 88,000 60,500 225,500 154,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 64,900 204,600 121,000 74,800 13,200 55,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm B $ 541,000 149,000 Firm C $ 322,000 $ 402,000 223,000 88,000 44,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 300,000 84,000 13,000 45,000 74,000 115,000 72,000 45,000
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B $ 652.500 Firm C S 780,000 307 500 120.000 82,500 210,000 Total assets, 12/31/19 Total liabilities, 12/31/19 Paid-in capital, 12/31/19 Retained earnings, 12/31/19 Net income for 2019 Dividends declared and paid during 2019 Retained earnings, 1/1/19 88,500 279,000 165,000 121,500 102,000 18.000 75,000...
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. 1.11 Required: Calculate the missing amounts for each firm. points O Answer is complete but not entirely correct. Firm A Firm B Firm C Total assets, 12/31/19 $ 418,000 $547,000 $ 330,000 Total liablities, 12/31/19 217,000 134,000 194,000 Paid-in capital, 12/31/19 111,000 O 89.000 38,000 Retained earnings, 12/31/19 Net income for 2019 112,000 O 302,000...
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