BEASLEY, INCORPORATED Balance Sheet Assets: Liabilities: Cash $ 12,500 Accounts payable 2$ 18,900 Supplies 4,700 Stockholders' Equity: Prepaid rent Common stock Equipment 34,200 Retained earnings Total assets Total liabilities and stockholders' equity
BEASLEY, INCORPORATED Balance Sheet Assets: Liabilities: Cash $ 12,500 Accounts payable 2$ 18,900 Supplies 4,700 Stockholders' Equity: Prepaid rent Common stock Equipment 34,200 Retained earnings Total assets Total liabilities and stockholders' equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:BEASLEY, INCORPORATED
Balance Sheet
Assets:
Liabilities:
Cash
$
12,500
Accounts payable
2$
18,900
Supplies
4,700
Stockholders' Equity:
Prepaid rent
Common stock
Equipment
34,200
Retained earnings
Total assets
Total liabilities and stockholders' equity

Transcribed Image Text:Below are incomplete financial statements for Beasley, Incorporated. Calculate the missing amounts.
BEASLEY, INCORPORATED
Income Statement
Revenues
Expenses:
Salaries
8,600
Delivery
7,600
Utilities
5,700
Net income
BEASLEY, INCORPORATED
Statement of Stockholders' Equity
Common
Retained
Stock
Earnings
Beginning
$ 12,700 $
15,000
Issuances
Net income
6,800
Dividends
Ending
2$
35,300
2$
19,080
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