Question

Determination of Omitted Financial Statement Data

For the four unrelated situations, A-D, below, calculate the unknown amounts indicated by the letters appearing in each column:

D Determination of Omitted Financial Statement Data For the four unrelated situations, A-D, below, calculate the unknown amounts indicated by the letters appearing in each column: A B с Beginning Assets $40,000 $12,000 $28,000 (d) Liabilities 18,600 5,200 10,000 9,000 Ending Assets 30,000 36,000 41,000 37,000 Liabilities 17,300 (b) 13,000 15,000 During the year Common Stock 2,000 6,100 (c) 3,500 Revenues (a) 28,000 18,000 24,000 Dividends 5,000 1,500 2,000 6,500 Expenses 9,500 21,000 11,000 18,500 (a) 0x (b) 0X (C) 0 x (d) 0 x

Answer 1

a)

Assets at ending	$   30,000
Less: Liabilities	$ (17,300)
less: Common stock	$   (2,000)
Add: Dividends	$      5,000
Add: Expenses	$      9,500
Revenues	$   25,200

b)_

Assets at ending	$   36,000
less: Common stock	$   (6,100)
Add: Dividends	$      1,500
Add: Expenses	$   21,000
Less: Revenues	$ (28,000)
Liabilities	$   24,400

c)

Assets at ending	$   41,000
Less: Liabilities	$ (13,000)
less: Revenues	$ (18,000)
Add: Dividends	$      2,000
Add: Expenses	$   11,000
Common stock	$   23,000

d)

Liabilities Beginning	$      9,000
Common stock	$   3,500
Assets beginning	$   12,500

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