1. Use the accounting equation to compute the missing financial statement amounts. 2. Use the expanded accounting equation to compute the missing financial statement amounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the expanded accounting equation to compute the missing financial statement amounts. Common Stock Company 1 2 $ $ Assets 44,000 83,800 Liabilities $ $ + $ 17,000 + 33,000 + $ 22,000 46,000 < Required 1 Dividends + 0 + $ + $ $ Revenues 14,000- 26,000 Required 2 > $ $ Expenses 9,000 19,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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**Instructions:**

1. Use the accounting equation to compute the missing financial statement amounts.
2. Use the expanded accounting equation to compute the missing financial statement amounts.

**Task:**

Complete this question by entering your answers in the tabs below.

**Required Tabs:**
- Required 1
- Required 2

**Data Table:**

The table is used to compute the missing financial statement amounts using the expanded accounting equation.

| Company | Assets | = | Liabilities | + | Common Stock | - | Dividends | + | Revenues | - | Expenses |
|---------|--------|---|-------------|---|--------------|---|-----------|---|----------|---|----------|
| 1       | $44,000| = | $17,000     | + | $22,000      | - | $0        | + | $14,000   | - | $9,000   |
| 2       | $83,800| = | $33,000     | + | $46,000      | - | ?         | + | $26,000   | - | $19,000  |

**Note:** The table contains financial data for two companies, where certain amounts need to be calculated using the accounting equation. For Company 2, the Dividends value is missing and needs to be determined.
Transcribed Image Text:**Instructions:** 1. Use the accounting equation to compute the missing financial statement amounts. 2. Use the expanded accounting equation to compute the missing financial statement amounts. **Task:** Complete this question by entering your answers in the tabs below. **Required Tabs:** - Required 1 - Required 2 **Data Table:** The table is used to compute the missing financial statement amounts using the expanded accounting equation. | Company | Assets | = | Liabilities | + | Common Stock | - | Dividends | + | Revenues | - | Expenses | |---------|--------|---|-------------|---|--------------|---|-----------|---|----------|---|----------| | 1 | $44,000| = | $17,000 | + | $22,000 | - | $0 | + | $14,000 | - | $9,000 | | 2 | $83,800| = | $33,000 | + | $46,000 | - | ? | + | $26,000 | - | $19,000 | **Note:** The table contains financial data for two companies, where certain amounts need to be calculated using the accounting equation. For Company 2, the Dividends value is missing and needs to be determined.
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