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1. Selected balance sheet items are shown for the Basic Company. Compute the missing amounts for each of the four years using the basic accounting equation. 2019 $113,624 ACCOUNT 2020 2021 2022 $ ? 151,021 Current assets $? $85,124 Noncurrent assets ? 198,014 162,011 Total assets $524,600 $ ? $ ? $220,111 $? $ ? 30,222 Current liabilities $56,142 $40,220 Noncurrent liabilities ? ? 60,100 Paid-in Capital Retained Earnings 214,155 173,295 170,000 (3,644) $288,456 170,000 2,350 $ 220,111 13,785 1,452 Total liabilities and $524,600 $ ? owner's equity

1. Selected balance sheet items are shown for the Basic Company. Compute the missing amounts for each of the four years using the basic accounting equation. 2019 $113,624 ACCOUNT 2020 2021 2022 $ ? 151,021 Current assets $? $85,124 Noncurrent assets ? 198,014 162,011 Total assets $524,600 $ ? $ ? $220,111 $? $ ? 30,222 Current liabilities $56,142 $40,220 Noncurrent liabilities ? ? 60,100 Paid-in Capital Retained Earnings 214,155 173,295 170,000 (3,644) $288,456 170,000 2,350 $ 220,111 13,785 1,452 Total liabilities and $524,600 $ ? owner's equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Supply the missing figures for the following: 1. Current assets, 2020 - 2. Total assets, 2020 - 3. Noncurrent liabilities, 2020 - 4. Total assets 2021 - 5. Current liabilities, 2021 - 6. Total liabilities and owner's equity, 2021 - 7. Current assets, 2022 - 8. Current liabilities, 2022 -
1. Selected balance sheet items are shown for the Basic Company. Compute the missing amounts for each of the four years using the basic accounting equation. ACCOUNT 2019 2020 2021 2022 Current assets $113,624 $ ? $85,124 $ ? Noncurrent assets ? 198,014 162,011 151,021 Total assets $524,600 $? $ ? $220,111 Current liabilities $56,142 $40,220 $ ? $ ? Noncurrent liabilities ? 60,100 30,222 Paid-in Capital Retained Earnings 214,155 173,295 170,000 (3,644) $288,456 170,000 2,350 $ 220,111 13,785 1,452 Total liabilities and $524,600 $ ? owner's equity
Transcribed Image Text:1. Selected balance sheet items are shown for the Basic Company. Compute the missing amounts for each of the four years using the basic accounting equation. ACCOUNT 2019 2020 2021 2022 Current assets $113,624 $ ? $85,124 $ ? Noncurrent assets ? 198,014 162,011 151,021 Total assets $524,600 $? $ ? $220,111 Current liabilities $56,142 $40,220 $ ? $ ? Noncurrent liabilities ? 60,100 30,222 Paid-in Capital Retained Earnings 214,155 173,295 170,000 (3,644) $288,456 170,000 2,350 $ 220,111 13,785 1,452 Total liabilities and $524,600 $ ? owner's equity
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