Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Stockholders’ Equity = $35,000.) Ayayai Company Kingbird Company Michelangelo Company Raphael Company January 1, 2019 Assets $ 105,000 $154,000 $ (g) $210,000 Liabilities 70,000 (d) 105,000 (j) Stockholders’ equity (a) 84,000 63,000 140,000 December 31, 2019 Assets (b) 191,800 280,000 (k) Liabilities 77,000 105,000 (h) 112,000 Stockholders’ equity 56,000 (e) 182,000 196,000 Stockholders’ equity changes in year Additional investment (c) 21,000 14,000 21,000 Dividends 14,000 (f) 19,600 14,000 Total revenues 490,000 588,000 (i) 700,000 Total expenses 462,000 539,000 478,800 (l)
Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Stockholders’ Equity = $35,000.) Ayayai Company Kingbird Company Michelangelo Company Raphael Company January 1, 2019 Assets $ 105,000 $154,000 $ (g) $210,000 Liabilities 70,000 (d) 105,000 (j) Stockholders’ equity (a) 84,000 63,000 140,000 December 31, 2019 Assets (b) 191,800 280,000 (k) Liabilities 77,000 105,000 (h) 112,000 Stockholders’ equity 56,000 (e) 182,000 196,000 Stockholders’ equity changes in year Additional investment (c) 21,000 14,000 21,000 Dividends 14,000 (f) 19,600 14,000 Total revenues 490,000 588,000 (i) 700,000 Total expenses 462,000 539,000 478,800 (l)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities =
Ayayai Company
Kingbird Company
Michelangelo Company
Raphael Company
January 1, 2019
Assets
$ 105,000
$154,000
$
(g)
$210,000
Liabilities
70,000
(d)
105,000
(j)
Stockholders’ equity
(a)
84,000
63,000
140,000
December 31, 2019
Assets
(b)
191,800
280,000
(k)
Liabilities
77,000
105,000
(h)
112,000
Stockholders’ equity
56,000
(e)
182,000
196,000
Stockholders’ equity changes in year
Additional investment
(c)
21,000
14,000
21,000
Dividends
14,000
(f)
19,600
14,000
Total revenues
490,000
588,000
(i)
700,000
Total expenses
462,000
539,000
478,800
(l)
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