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Calculate missing amounts. LO 3), AN E1-9 Here are incomplete financial statements for Donavan, Inc. Assets DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity Cash $ 7,000 Liabilities Inventory 10,000 Accounts payable Buildings 45,000 Stockholders' equity Total assets $62,000 Common stock $ 5,000 Retained earnings (b) Total liabilities and stockholders' equity $62,000

Calculate missing amounts. LO 3), AN E1-9 Here are incomplete financial statements for Donavan, Inc. Assets DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity Cash $ 7,000 Liabilities Inventory 10,000 Accounts payable Buildings 45,000 Stockholders' equity Total assets $62,000 Common stock $ 5,000 Retained earnings (b) Total liabilities and stockholders' equity $62,000

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ECONOMICS

Calculate missing amounts. (LO 3), AN E1-9 Here are incomplete financial statements for Donavan, Inc. Cash Assets Inventory Buildings Instructions Calculate the missing amounts. Total assets $62,000 DONAVAN, INC. Balance Sheet $7,000 Liabilities Accounts payable 10,000 45,000 Stockholders' equity Common stock (a) Retained earnings (b) Total liabilities and stockholders' equity $62,000 Liabilities and Stockholders' Equity Income Statement Revenues Cost of goods sold Salaries and wages expense Net income $85,000 (c) 10,000 S (d) Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income (e) Less: Dividends 5,000 Ending retained earnings $27,000 $ 5,000
Transcribed Image Text:Calculate missing amounts. (LO 3), AN E1-9 Here are incomplete financial statements for Donavan, Inc. Cash Assets Inventory Buildings Instructions Calculate the missing amounts. Total assets $62,000 DONAVAN, INC. Balance Sheet $7,000 Liabilities Accounts payable 10,000 45,000 Stockholders' equity Common stock (a) Retained earnings (b) Total liabilities and stockholders' equity $62,000 Liabilities and Stockholders' Equity Income Statement Revenues Cost of goods sold Salaries and wages expense Net income $85,000 (c) 10,000 S (d) Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income (e) Less: Dividends 5,000 Ending retained earnings $27,000 $ 5,000
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