Parrish 1-3 #2 Please find the missing amount listed below. Please provide the equation and method used to find this amount. Please be specific and thorough in your explanation. Revenues $3000 Dividends declared $2000 Expenses $1000 RE 1/1 $ Unknown RE 12/31 $6000

Parrish 1-3 #2 Please find the missing amount listed below. Please provide the equation and method used to find this amount. Please be specific and thorough in your explanation. Revenues $3000 Dividends declared $2000 Expenses $1000 RE 1/1 $ Unknown RE 12/31 $6000

Name: Parrish 1-3 #2Please find the missing amount listed below. Please pro
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Description: Parrish 1-3 #2Please find the missing amount listed below. Please provide the equation and method used to find this amount. Please be specific and thorough in your explanation.Revenues $3000Dividends declared $2000Expenses $1000RE 1/1 $ UnknownRE 1

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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Calculate the unknown amounts appearing in each column. A B C Beginning Assets $50,000 $45,000 $65,000 Liabilities $30,000 $10,000 $45,000 Ending Assets $54,000 $42,000 $48,000 Liabilities $20,000 ? $15,000 During Year Sales Revenue ? $42,000 $42,000 Expenses $13,000 $35,000 $25,000 Dividends $1,500 $1,000 ?
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Please help solving Example P20-7 from Chapter 20 in the Financial Reporting and Analysis 8th Edition Presented next are the balance sheet accounts of Bergen Corporation as of December 31, 20X1 and 20X0. 20X1 20X0 Increase (Decrease) Assets Current assets: Cash $ 541,000 $ 308,000 $ 233,000 Accounts receivable, net 585,000 495,000 90,000 Inventories 895,000 780,000 115,000 Total current assets 2,021,000 1,583,000 438,000 Land 350,000 250,000 100,000 Plant and equipment 1,060,000 720,000 340,000 Accumulated depreciation (295,000 ) (170,000 ) (125,000 ) Leased equipment under capital lease 158,000 -0- 158,000 Marketable investment securities, at cost -0- 75,000 (75,000 ) Investment in Mason, Inc., at cost 180,000 180,000 -0- Total assets $ 3,474,000 $ 2,638,000…
Question1 The following accounts balances and other financial information are drawn from the records of the Fenway Company for 2022. Fenway Company 2022 Net sales Revenue 38,800 Depreciation Expense 500 Unearned Revenue 2600 Accumulated Depreciation 1000 Accounts Receivable 8,000 Operating Expenses 4500 Cost of Goods Sold 26,000 Cash – Ending 4400 Inventory 5,000 Land 20000 Accounts Payable 5,800 Beginning Balance Retained Earnings 8500 Notes Payable 6,000 Common Stock 12000 Supplies 50 Cash received from customers 6400 Supplies Expense 750 Purchased Office Equipment 2500 Office Equipment 3,500 Received Cash from Issuing Stock 3000 Paid Cash for Dividends 2000 Paid Cash for Operating Expenses 1000 Instructions As the Chief Financial Officer (CFO) of a publicly traded company you are charged with evaluating companies in a similar…
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Question 5: One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet. Assets Liabilities & Equity $ 100,000 Current Liabilities Cash Receivables Long Tem Debt Inventory Total Debt Plant Common Equity $ 600,000 Total Assets Total Claims Additional Information: Current Ratio is 2.5 ; Average Collection Period is 54 days; Total Debt to Total Assets 40 percent; Total Asset Tumoveris 2; Inventory Tumover 5.