this information, which of the following shows how the recognition of the return will affect the Company's financial statements? Balance Sheet Income Statement Assets n/a (100) (100) (100) = Liabilities n/a (100) (100) (100) + Stockholders' Equity n/a n/a n/a n/a Revenue n/a n/a n/a n/a Expense n/a n/a 100 n/a = Net Income n/a n/a (100) n/a Statement o 100 Operat n n (100) Operat

this information, which of the following shows how the recognition of the return will affect the Company's financial statements? Balance Sheet Income Statement Assets n/a (100) (100) (100) = Liabilities n/a (100) (100) (100) + Stockholders' Equity n/a n/a n/a n/a Revenue n/a n/a n/a n/a Expense n/a n/a 100 n/a = Net Income n/a n/a (100) n/a Statement o 100 Operat n n (100) Operat

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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Is the balance column for profit and loss (capital equity) a CR or DR?
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Can you help me with #11-#13?
1. What amount should be reported as total assets after restatement for hyperinflation? a. 3,550,000b. 6,000,000c. 6,780,000d. 5,000,000 2. What amount should be reported as retained earnings after restatement? a. 950,000b. 200,000c. 400,000d. 500,000 3. What amount should be reported as total shareholders’ equity after restatement? a. 5,200,000b. 5,400,000c. 6,150,000d. 5,800,000
15 )
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Which of the following is the correct Basic Accounting Equation Oa ASSET + LIABILITIES= STOCK HOLDER'S EQUITY O b. ASSET= LIABILITIES + STOCK HOLDER'S EQUITY C LIABILITIES =ASSETS + STOCK HOLDER'S EQUITY Od ASSETS =LIABILITIES
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Sheridan Company provides you with the following condensed balance sheet information: Current assets Equity investments Equipment (net) Intangibles Total assets Current and long-term liabilities Stockholders' equity Common stock ($5 par) Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity (1) (2) (3) (4) Liabilities and Stockholders' Equity (5) Assets Total assets For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) a. Sheridan declares and pays a $0.50 per share cash dividend. Common stock Paid-in capital in excess of par Retained earnings $20,200 Total stockholders' equity 120,300 154,200 decrease no effect no effect decrease decrease < $41,300 < 59,400 248,300 55,000 $404,000 $109,300 294,700 $404,000 $ LA tA LA LA
Equity equals to a) Capital b) Retained Earnings c) Difference between assets and liabilities d) Period net income
use the information to make a common size balance sheet