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PB 4. LO 2.1 Each of the following situations relates to a different company. 1 12345 2 3 Revenues Expenses Gains Losses 5 Net Income or (Loss) 4 Company A ? $455,490 0 32,760 32,130 Company B $1,480,500 1,518,300 ? 0 39,690 Company C $103,950 78,120 4,725 5,670 ? A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. Company D $1,054,116 ? 8,505 39,312 (58,275)

PB 4. LO 2.1 Each of the following situations relates to a different company. 1 12345 2 3 Revenues Expenses Gains Losses 5 Net Income or (Loss) 4 Company A ? $455,490 0 32,760 32,130 Company B $1,480,500 1,518,300 ? 0 39,690 Company C $103,950 78,120 4,725 5,670 ? A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. Company D $1,054,116 ? 8,505 39,312 (58,275)

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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PB 4. LO 2.1 Each of the following situations relates to a different company. 1 Revenues 2 Expenses 3 Gains Losses 71 45 4 5 Net Income or (Loss) Company A Company B ? $1,480,500 1,518,300 $455,490 0 32,760 32,130 Transaction A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. ? 0 39,690 Received cash for sale of asset (no gain or loss) Cash distribution to owner Cash sales Investment by owners Owe vendor for inventory purchase Company C $103,950 78,120 4,725 5,670 ? PB 5. LO 2.2 For each of the following independent transactions, indicate whether there was an increase, decrease, or no impact on each financial statement element. Assets Company D $1,054,116 Liabilities ? 8,505 39,312 (58,275) Owners' Equity
Transcribed Image Text:PB 4. LO 2.1 Each of the following situations relates to a different company. 1 Revenues 2 Expenses 3 Gains Losses 71 45 4 5 Net Income or (Loss) Company A Company B ? $1,480,500 1,518,300 $455,490 0 32,760 32,130 Transaction A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. ? 0 39,690 Received cash for sale of asset (no gain or loss) Cash distribution to owner Cash sales Investment by owners Owe vendor for inventory purchase Company C $103,950 78,120 4,725 5,670 ? PB 5. LO 2.2 For each of the following independent transactions, indicate whether there was an increase, decrease, or no impact on each financial statement element. Assets Company D $1,054,116 Liabilities ? 8,505 39,312 (58,275) Owners' Equity
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