Instructions Complete the missing data in these financial statements: (a) Total expenses (b) Net income (c) Common shares, beginning of year (d) Retained earnings, beginning of year (e) Total shareholders' equity, end of year (f) Total assets (g) Total liabilities and shareholders' equity Provide an explanation for each of the following: 1. Why is an increase in an expense shown as a negative number in the expanded accounting equation 1. Why is cash received before services are performed not regarded as revenue? 1. Why are dividends declared not recorded as an expense?
Instructions Complete the missing data in these financial statements: (a) Total expenses (b) Net income (c) Common shares, beginning of year (d) Retained earnings, beginning of year (e) Total shareholders' equity, end of year (f) Total assets (g) Total liabilities and shareholders' equity Provide an explanation for each of the following: 1. Why is an increase in an expense shown as a negative number in the expanded accounting equation 1. Why is cash received before services are performed not regarded as revenue? 1. Why are dividends declared not recorded as an expense?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 13E: Ratio of liabilities to stockholders equity and times interest earned The following data were taken...
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