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Income Statements Revenue Cost and expenses Net income Balance Sheets Assets Cash Other assets Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 $ $ $ GA $ 905 35 1,930 2,340 1,530 1,565 $ 2,340 Year 2 $ 1,725 (1,085) $ 2,550 $ 3,790 $ 1,530 675 $ Year 3 (2,430) $ 175 2,530 $ 1,030 Year 4 $ 2,945 (2,645) $ 1,890 $ 4,510 $ 2,030 850 2,380 3,790 $ 3,410 $ 3,180 4,510

Income Statements Revenue Cost and expenses Net income Balance Sheets Assets Cash Other assets Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 $ $ $ GA $ 905 35 1,930 2,340 1,530 1,565 $ 2,340 Year 2 $ 1,725 (1,085) $ 2,550 $ 3,790 $ 1,530 675 $ Year 3 (2,430) $ 175 2,530 $ 1,030 Year 4 $ 2,945 (2,645) $ 1,890 $ 4,510 $ 2,030 850 2,380 3,790 $ 3,410 $ 3,180 4,510

FINANCIAL ACCOUNTING
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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Income Statements Revenue Cost and expenses Net income Balance Sheets Assets Cash Other assets Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 69 $ $ $ 905 $ 1,725 (1,085) 35 Year 2 1,930 $ 2,340 $ 3,790 1,530 $ 2,550 $ 1,530 675 1,565 2,340 $ 3,790 Year 3 (2,430) $ 175 $ $ 2,530 1,030 850 2,380 3,410 Year 4 $ 2,945 (2,645) $ 1,890 $ 4,510 $ 2,030 $ 3,180 4,510
Transcribed Image Text:Income Statements Revenue Cost and expenses Net income Balance Sheets Assets Cash Other assets Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 69 $ $ $ 905 $ 1,725 (1,085) 35 Year 2 1,930 $ 2,340 $ 3,790 1,530 $ 2,550 $ 1,530 675 1,565 2,340 $ 3,790 Year 3 (2,430) $ 175 $ $ 2,530 1,030 850 2,380 3,410 Year 4 $ 2,945 (2,645) $ 1,890 $ 4,510 $ 2,030 $ 3,180 4,510
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