Missing amounts from balance sheet and income statement data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations: Determine the missing amounts. Hint: First determine the amount of increase or decrease in stockholders' equity during the year. Beginning of the year: Assets Liabilities End of the year: Freeman Heyward Jones Ramirez $299,500 $341,400 $134,800 179,700 177,500 102,400 $164,400 Assets Liabilities 371,400 478,000 121,300 339,800 161,700 150,200 107,800 186,400 During the year: Additional common stock issued 68,300 13,500 54,800 Dividends 21,000 20,500 80,400 Revenue 98,900 155,000 153,400 Expenses 53,900 88,800 165,800 175,400

Missing amounts from balance sheet and income statement data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations: Determine the missing amounts. Hint: First determine the amount of increase or decrease in stockholders' equity during the year. Beginning of the year: Assets Liabilities End of the year: Freeman Heyward Jones Ramirez $299,500 $341,400 $134,800 179,700 177,500 102,400 $164,400 Assets Liabilities 371,400 478,000 121,300 339,800 161,700 150,200 107,800 186,400 During the year: Additional common stock issued 68,300 13,500 54,800 Dividends 21,000 20,500 80,400 Revenue 98,900 155,000 153,400 Expenses 53,900 88,800 165,800 175,400

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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