For the two unrelated situations below, compute the unknown amounts indicated by the letters (a) and (b). (1) (2) Beginning: Assets $42,000 $61,000 Liabilities 18,000 24,000 Ending: Assets 48,000 68,000 Liabilities 15,000 (b) During the year: Stock issued (a) 4,000 Revenues 28,000 45,000 Dividends paid 5,000 3,000 Expenses 16,000 37,000

For the two unrelated situations below, compute the unknown amounts indicated by the letters (a) and (b). (1) (2) Beginning: Assets $42,000 $61,000 Liabilities 18,000 24,000 Ending: Assets 48,000 68,000 Liabilities 15,000 (b) During the year: Stock issued (a) 4,000 Revenues 28,000 45,000 Dividends paid 5,000 3,000 Expenses 16,000 37,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

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Question

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Please help me with this question:

For the two unrelated situations below, compute the unknown amounts indicated by the letters (a) and (b).
(1)
(2)
Beginning:
Assets
$42,000
$61,000
Liabilities
18,000
24,000
Ending:
Assets
48,000
68,000
Liabilities
15,000
(b)
During the year:
Stock issued
(a)
4,000
Revenues
28,000
45,000
Dividends paid
5,000
3,000
Expenses
16,000
37,000

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Given the following information, what is the ratio of liabilities to stockholders’ equity?