Homework Answers
Required part a--- Match the following
a-7
b-3
C-6
d-5
e-4
f-1
g-2
Required part b Calculation of missing amounts
Company . Missing amount
A Assets =liabilities+ common stock+ Retained earnings
Assests=$25000+$48000+$50000=$123000
B. Liability=Assests-common stock-retained earnings
Liability=$40000-$7000-$30000=$3000
C. Common stock=Assests-liability-Retained earnings
Common stock=$75000-$15000-$42000=18000
D . Retained earnings=Assets-liability-common stock
Retainedearning=$125000-$45000-$60000=20000
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Exercise 1-4 Key definitions and missing information in the accounting equation Required a. Match the terms...
Required Select the terms (identified as a through g) with the definitions and phrases. Phrases Definition...
Required Select the terms (identified as a through g) with the definitions and phrases. Phrases Definition Individuals or institutions that have loaned goods or services to a business Common Stock + Roland Earnings C d e Assets Common Stock creditors Liability Retained Eamings Stockholders Stockholders' Equity Certificates that evidence ownership in a company Assets - Liabilities - Common Stock An obligation to pay cash in the future Pindi u sor institutions that have contributed assets or services to a business...
A- Select the terms (identified as a through g) with the definitions and phrases . a....
A- Select the terms (identified as a through g) with the
definitions and phrases
.
a. Assets 1. Individuals or institutions that have contributed assets or services toa b. Common Stock c. Creditors d. Liability e. Retained Earnings 5.An obligation to pay cash in the future f. Stockholders business in exchange for an ownership interest in the business. 2. Common Stock Retained Earnings 3. Certificates that evidence ownership in a company 4. Assets-Liabilites-Common Stock 6. Individuals or institutions that have...
Required a. Match the terms (identified as a through g) with the definitions and phrases. For...
Required a. Match the terms (identified as a through g) with the definitions and phrases. For example the term "a. Assets" matches with definition, Economic resources that will be used by a business to produce revenue. b. Calculate the missing amounts in the following table: Complete this question by entering your answers in the tabs below. Required A Required B Calculate the missing amounts in the following table: Company Liabilities + $ 46,000 + Assets = = 89,500 = 91,000...
nework Required a. Select the terms (identified as a through g) with the definitions and phrases....
nework Required a. Select the terms (identified as a through g) with the definitions and phrases. b. Calculate the missing amounts in the following table: Complete this question by entering your answers in the tabs below. Required A Required B Calculate the missing amounts in the following table: Company Assets = 93,000) = 95.000 99 700 = Liabilities $ 42,000 - - 14.800 - 27.000 - Stockholders' Equity Common Retained Stock Earnings $ 52.600 - $ 36.400 24 400 -...
e1-19 E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet...
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of com- mon stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2. Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6,...
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets...
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC....
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,300 Inventory 15,300 Buildings 39,700 Total assets $67,300 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,500 Stockholders' Equity Common stock Retained earnings (b) Total liabilities and stockholders' equity $67,300 DONAVAN, INC. Income Statement $85,900 Revenues Cost of goods sold Salaries and wages expense 10,310 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $17,300 Add: Net income...
1. Compute the missing amount in the accounting equation for each entity from the financial information...
1. Compute the missing amount in the accounting equation for each entity from the financial information presented: Assets Liabilities 40,000 $ Nice Cuts $ Equity 31,000 42,000 Love Drycleaners Holly Maids 90,000 111,000 47,000 2. Star Nursery started 2018 with total assets of S14,000 and total liabilities of $9,000. At the end of 2018, Star Nursery's total assets stood at $19,000 and total liabilities were $11,000. Requirements 1. Did the stockholders' equity of Star Nursery increase or decrease during 2018?...
Required Select the terms (identified as a through g) with the definitions and phrases. Phrases Definition Individuals or institutions that have loaned goods or services to a business Common Stock + Roland Earnings C d e Assets Common Stock creditors Liability Retained Eamings Stockholders Stockholders' Equity Certificates that evidence ownership in a company Assets - Liabilities - Common Stock An obligation to pay cash in the future Pindi u sor institutions that have contributed assets or services to a business...
A- Select the terms (identified as a through g) with the
definitions and phrases
.
a. Assets 1. Individuals or institutions that have contributed assets or services toa b. Common Stock c. Creditors d. Liability e. Retained Earnings 5.An obligation to pay cash in the future f. Stockholders business in exchange for an ownership interest in the business. 2. Common Stock Retained Earnings 3. Certificates that evidence ownership in a company 4. Assets-Liabilites-Common Stock 6. Individuals or institutions that have...
Required a. Match the terms (identified as a through g) with the definitions and phrases. For example the term "a. Assets" matches with definition, Economic resources that will be used by a business to produce revenue. b. Calculate the missing amounts in the following table: Complete this question by entering your answers in the tabs below. Required A Required B Calculate the missing amounts in the following table: Company Liabilities + $ 46,000 + Assets = = 89,500 = 91,000...
nework Required a. Select the terms (identified as a through g) with the definitions and phrases. b. Calculate the missing amounts in the following table: Complete this question by entering your answers in the tabs below. Required A Required B Calculate the missing amounts in the following table: Company Assets = 93,000) = 95.000 99 700 = Liabilities $ 42,000 - - 14.800 - 27.000 - Stockholders' Equity Common Retained Stock Earnings $ 52.600 - $ 36.400 24 400 -...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of com- mon stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2. Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6,...
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,300 Inventory 15,300 Buildings 39,700 Total assets $67,300 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,500 Stockholders' Equity Common stock Retained earnings (b) Total liabilities and stockholders' equity $67,300 DONAVAN, INC. Income Statement $85,900 Revenues Cost of goods sold Salaries and wages expense 10,310 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $17,300 Add: Net income...
1. Compute the missing amount in the accounting equation for each entity from the financial information presented: Assets Liabilities 40,000 $ Nice Cuts $ Equity 31,000 42,000 Love Drycleaners Holly Maids 90,000 111,000 47,000 2. Star Nursery started 2018 with total assets of S14,000 and total liabilities of $9,000. At the end of 2018, Star Nursery's total assets stood at $19,000 and total liabilities were $11,000. Requirements 1. Did the stockholders' equity of Star Nursery increase or decrease during 2018?...
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