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Asset and Liability problems:

The information presented here represents selected data from the December 31, 2010, balance sheets and income statements for the year then ended for three firms.  
Calculate the missing amounts for each firm.
 
 Firm AFirm BFirm C
Total assets, 12/31/10$401,000 $531,000$334,000
Total liabilities, 12/31/10222,000 143,000___________
Paid-in capital, 12/31/1085,000[pic]42,000  
Retained earnings, 12/31/10[pic]319,000___________
Net income for 2010_________91,000116,000
Dividends declared and paid during 201050,00012,00062,000 Retained earnings, 1/1/1079,000_________35,000  
[pic]

Calculate the missing amounts for each firm.
 
 Firm AFirm BFirm C
  Total assets, 12/31/10________$261,000$312,000  
  Total liabilities, 12/31/1048,000114,000123,000  
  Paid-in capital, 12/31/1033,00035,40084,000
  Retained earnings, 12/31/10_______111,600  105000
  Net income for 201040,800 66,000  48,600  
  Dividends declared and paid during 20107,200 ________ 16,800     Retained earnings, 1/1/1030,000  74,400  _________  [pic]

Gary's TV had the following accounts and amounts in its financial statements on December 31, 2010. Assume that all balance sheet items reflect account balances at December 31, 2010, and that all income statement items reflect activities that occurred during the year then ended.

____________________
Interest expense $ 9,000
Paid-in capital 80,000
Accumulated depreciation 6,000
Notes payable (long-term) 280,000
Rent expense 16,000
Merchandise inventory 164,000
Accounts receivable 48,000
Depreciation expense 3,000
Land 35,000
Retained earnings 225,000
Cash 36,000
Cost of goods sold 394,000
Equipment 18,000
Income tax expense 60,000
Accounts payable 26,000
Sales revenue 620,000
__________________________________________________

(b) Calculate the total assets at December 31,...
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