Question 21. Fill in the missing amounts which correspond with a letter for each company.AlphaDeltaBetaBeginningAssetsLiabilitiesCommon sharesRetained earnings$78$30$24719210EndingAssetsLiabilitiesCommon sharesRetained earningsDividends$48$9$4830272Income StatementRevenuesExpensesNet income$216$20211$14419BUSI 1043 INTRODUCTION TO FINANCIAL ACCOUNTINGO YORKVILLEUNIVERSITYwww.YORKVILLEU.CAMissing AmountSolution

Income Statement: An income statement is a financial statement prepared by a company to report their…

Answered: Question 2 1. Fill in the missing…

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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Exercise 9-13A (Algo) Ratio analysis LO 9-2, 9-3, 9-4, 9-5 Following is the balance sheet of Perez Company for Year 3: PEREZ COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity f. Debt to equity ratio $ 17.10 per share $ 15,350 8,380 13,160 11, 100 167,500 % % (12,800) The average number of common stock shares outstanding during Year 3 was 900 shares. Net income for the year was $15,400: Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) $202,690 $ 8,960 3,880 4,400 21,720 114,000 49,730 $202,690 PAARDE A PONEMOS
16. Using the expanded accounting equation, solve for the missing amount. Assets Liabilities 71,288 2,260 Common Stock ? Dividends 14,420 Revenues Expenses 53,085 28,675 Begin by selecting the formula for the expanded accounting equation. Then enter the amounts to solve for the missing amount. = II = + + + +
QUESTION 52 Indicate the effect of the following event on the compány's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity. O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock…
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Retained Earnings Date May 31 Dividends Date May 31 Services Revenue Date May 31 Depreciation Expense Date May 31 PR G2 PR G2 May 31 PR G2 May 31 Required A Required B Date PR G2 Date Debit Debit Debit Debit Account Number 318 Credit Account Number 319 Credit 319: Dividends Debit Balance 83,000 Account Number 403 Credit Balance 57,000 Account Number 603 Credit Complete this questions by entering your answers in the tabs below. Balance 146,246 Credit Credit Balance 15,000 Balance 83,000 0 0 Salaries Expense Date May 31 Insurance Expense Balance Date May 31 Rent Expense Date May 31 Income Summary 57,000 Date < Prev (a) Prepare closing journal entries from the above ledger accounts. (b) Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date. May 31 Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date. 318: Retained Earnings…
Prepare balance sheets for Ebony Interiors as of March 31, 2018. Ebony InteriorsBalance SheetMarch 31, 2018 Assets $Cash Accounts receivable Supplies Total assets Liabilities $Accounts payable Stockholders' Equity $Common stock Retained earnings Total stockholders' equity fill in the blank dff07100effdffe_14 Total liabilities and stockholders' equity $fill in the blank dff07100effdffe_15
PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL 1. The account balances of Boast Co. include the following: Notes payable PhilHealth cont. payable Interest payable 14,000 12,000 Cash dividends payable Unearned revenue 2,000 Share dividends payable 30,000 Lease liability 10,000 Bonds payable Rent payable Warranty obligation Discount on notes receivable Income taxes payable Obligation to deliver a fixed number of own shares worth a fixed amount of cash Ordinary shares issued 6,000 4,000 2 100,000 12,000 8,000 6,000 70,000 240,000 Premium on bonds payable 20,000 Security deposit 4,000 Redeemable preference shares issued 20,000 Constructive obligation How much is Boast Co.'s total financial liabilities? a. 426,000 b. 438,000 c. 444,000 28,000 22,000 d. 538,000
A7

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