he information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the ear then ended for three firms. required: Calculate the missing amounts for each firm. Answer is complete but not entirely correct. Firm A Firm B Firm C Total assets, 12/31/19 $ 417,000 $536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 195,000 O Paid-in capital, 12/31/19 85,000 88,000 O 43,000 123,000 O 15,000 X Retained earnings, 12/31/19 316,000 90,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000 69,000 Retained earnings, 1/1/19 81,000 38,800 X 48,000

he information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the ear then ended for three firms. required: Calculate the missing amounts for each firm. Answer is complete but not entirely correct. Firm A Firm B Firm C Total assets, 12/31/19 $ 417,000 $536,000 $ 328,000 Total liabilities, 12/31/19 209,000 132,000 195,000 O Paid-in capital, 12/31/19 85,000 88,000 O 43,000 123,000 O 15,000 X Retained earnings, 12/31/19 316,000 90,000 Net income for 2019 93,000 111,000 Dividends declared and paid during 2019 57,000 21,000 69,000 Retained earnings, 1/1/19 81,000 38,800 X 48,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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