Question

Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2020, Concord Corporation and Bridgeport Enterprises. Determine the missing amounts. Concord Corporation Bridgeport Enterprises Beginning of year: Total assets $104,760 $139,320 Total liabilities 91,800 (c) Total stockholders' equity (a) 81.000 End of year: Total assets 194,400 172,800 129,600 43,200 Total liabilities Total stockholders' equity Changes during year in stockholders' equity: 54,000 140,400 Additional investment (b) 27,000 Dividends 25,920 (d) Total revenues Total expenses 232,200 189,000 108,000 59,400

Answer 1

Answer

• Requirements asked

Requirement [a]
Beg Total assets	$104,760
Beg Total Liabilities	($91,800)
Beg Total Stockholder's equity	$12,960
Requirement [b]
End Stockholder's equity	$43,200
Total Expenses	$189,000
Dividends	$25,920
Total revenues	($232,200)
Beg Total Stockholder's equity	($12,960)
Additional Investments	$12,960
Requirement [c]
Beg Total assets	$139,320
Beg Total Stockholder's equity	($81,000)
Beg Total Liabilities	$58,320
Requirement [d]
Beg Total Stockholder's equity	$81,000
Total revenues	$108,000
Additional Investments	$27,000
Total Expenses	($59,400)
End Stockholder's equity	($140,400)
Dividends	$16,200