Statement of Earnings and Statement of Financial Position Relationships Each column presents financial information taken from one of four different companies, with items of data missing. Required: Use your understanding of the relationships among financial statements and financial statement items to determine the missing values. Company Financial Statement Item Crick Pascal Eiffel Hilbert Total revenue $940 $523 $fill in the blank 1 $1,045 Total expense 822 fill in the blank 2 377 fill in the blank 3 Net income (net loss) fill in the blank 4 289 142 (340) Total assets 709 1,660 fill in the blank 5 3,250 Total liabilities 304 fill in the blank 6 458 2,267 Total equity fill in the blank 7 950 93 fill in the blank 8
Statement of Earnings and Statement of Financial Position Relationships Each column presents financial information taken from one of four different companies, with items of data missing. Required: Use your understanding of the relationships among financial statements and financial statement items to determine the missing values. Company Financial Statement Item Crick Pascal Eiffel Hilbert Total revenue $940 $523 $fill in the blank 1 $1,045 Total expense 822 fill in the blank 2 377 fill in the blank 3 Net income (net loss) fill in the blank 4 289 142 (340) Total assets 709 1,660 fill in the blank 5 3,250 Total liabilities 304 fill in the blank 6 458 2,267 Total equity fill in the blank 7 950 93 fill in the blank 8
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Statement of Earnings and
Each column presents financial information taken from one of four different companies, with items of data missing.
Required:
Use your understanding of the relationships among financial statements and financial statement items to determine the missing values.
| Company | ||||||||||||||||||||
| Financial Statement Item | Crick | Pascal | Eiffel | Hilbert | ||||||||||||||||
| Total revenue | $940 | $523 | $fill in the blank 1 | $1,045 | ||||||||||||||||
| Total expense | 822 | fill in the blank 2 | 377 | fill in the blank 3 | ||||||||||||||||
| Net income (net loss) | fill in the blank 4 | 289 | 142 | (340) | ||||||||||||||||
| Total assets | 709 | 1,660 | fill in the blank 5 | 3,250 | ||||||||||||||||
| Total liabilities | 304 | fill in the blank 6 | 458 | 2,267 | ||||||||||||||||
| Total equity | fill in the blank 7 | 950 | 93 | fill in the blank 8 |
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