Question

RE act.pearsoncmg.com ch Ar OneStop Austin Pe... Accounting Cycle Do Homework - AC... Pearson ACT Co... Problem 2 Chapte.. A https://learn-apsu... + (4) Marketplace - 2.. G how to screenshot... + Accounting Cycle Tutorial Step 1: Account Balances 000.000 4 Balancing the Expanded Accounting Equation Glossary 2 HINT Activity 4.b - Using the Expanded Accounting Equation Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities Beginning of Year: $28.000 $18,000 End of Year: S62.000 $26,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10000 Ending Equity 36000 3) If the company issues common stock of 6,000 and pay dividends of $36,200, how much is net income (loss)? 4) If net income is $1,500 and dividends are $7,100, how much is common stock? Net Income (Loss) 48200 Common Stock 34600 5) If the company issues common stock of $19,600 and net income is $18,300, how much is dividends? 6) If the company issues common stock of $43,100 and pay dividends of $2,000, how much is net income (loss)? Dividends 11900 Net Income (Loss) 15100

Answer 1

1) equity at the begning =Toatl assets-Total liabilities

=$28000-$18000 =10000

2) Equity at the end =62000-26000 =36000

3)Net income for the period

Capital at the end =36000

Less:Divident  paid =36200

Capital+profit+additional

captal =(200)

Less:Capital at begning

+additional capital =16000

Net income =(16200)

4)Common stock

Caial at the end =36000

add: dividend =7100

Capial+net profit =43100

Less; Net profit =1500

Commom stock =41600

5)Divident

Opening capital =10000

Add: additional capital =19600

add: net profit =18300

Capial at the end+divident =47900

Less: capital at the end =36000

Divdent =11900

6)Net income

Capital at the end =36000

less:Divident  paid =2000

Capital+profit+additional

captal =34000

Less:Capital at begning

+additional capital =10000+43200 =53200

Net income ( loss)      =(19200)