At the beginning of 2019, Huffer Corporation had total assets of $232,800, total liabilities of $84,200,...
At the beginning of 2019, Huffer Corporation had total assets of $232,800, total liabilities of $84,200, common stock of $86,000, and retained earnings of $62,600. During 2019, Huffer had net income of $42,750, paid dividends of $11,900, and issued additional common stock for $13,300. Huffer's total assets at the end of 2019 were $232,800.
Required: Calculate the amount of liabilities that Huffer must have at the end of 2019 in order for the balance sheet equation to balance.
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At the beginning of 2019, Huffer Corporation had total assets of
$232,800, total liabilities of $84,200,...
Consultants had the following balance sheet amounts at the beginning of 2012: Total Assets: 400,000 Common...
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DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
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A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
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