Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

How to calculate missing amounts on balance sheet

16/11/2021 Client: muhammad11 Deadline: 2 Day

E1-5 Accounting equation

Determine the missing amount for each of the following:

Assets = Liabilities +Stockholders’ Equity

a. X = $ 70,000 + $90,000

.b. $ 95,000 = X + $18,000

c. $675,000 + $227,000 + X

E1-8 Net income and stockholders’ equity for four businesses Four different companies—Chang, Henry, Nagel, and Wilcox—show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders’ equity, are summarized as follows:

Total Assets Total Liabilities

Beginning of the year $775,000 $400,000

End of the year 900,000 300,000

On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in stockholders’ equity during the year.) Company Chang: No additional capital stock was issued, and no dividends were paid. Company Henry: No additional capital stock was issued, but dividends of $90,000 were paid. Company Nagel: Capital stock of $125,000 was issued, but no dividends were paid. Company Wilcox: Capital stock of $125,000 was issued, and dividends of $90,000 were paid.

Company Chang: Net income, $225,000

E1-10 Balance sheet items From the following list of selected items taken from the records of Flip Flop Sandals Inc. as of a specific date, identify those that would appear on the balance sheet.

1. Accounts Receivable 2. Capital Stock 3. Cash 4. Fees Earned 5. Rent Expense

6. Salaries Expense 7. Salaries Payable 8. Supplies 9. Supplies Expense 10. Utilities Expense

E1-15 Missing amounts from balance sheet and income statement data One item is omitted in each of the following summaries of balance sheet and income state- ment data for four different corporations, AL, CO, KS, and MT.

AL CO KS MT

Beginning of the year:

Assets $400,000 $300,000 $550,000 $ (d)

Liabilities 200,000 130,000 325,000 350,000

End of the year:

Assets 800,000 460,000 660,000 1,200,000

Liabilities 450,000 110,000 360,000 700,000

During the year:

Additional issue of capital stock (a) 50,000 100,000 100,000

Dividends 50,000 20,000 (c) 90,000

Revenue 175,000 (b) 115,000 420,000

Expenses 65,000 70,000 130,000 480,000

E1-17 Financial statements Each of the following items is shown in the financial statements of ExxonMobil Corporation. Identify the financial statement (balance sheet or income statement) in which each item would appear.

a. Accounts payable

b. Cash equivalents

c. Crude oil inventory

d. Equipment

e. Exploration expenses

f. Income taxes payable

g. Investments

h. Long-term debt

i. Marketable securities

j. Notes and loans payable

k. Operating expenses

l. Prepaid taxes

m. Retained earnings

n. Sales

o. Selling expenses

P1-1 Income statement, retained earnings statement, and balance sheet The amounts of the assets and liabilities of Utah Travel Service as of April 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $300,000, and the capital stock was $90,000 as of May 1, 20Y5, the beginning of the current year. Dividends of $75,000 were paid during the current year.

Accounts payable $ 71,500

Accounts receivable 188,100

Cash 428,300

Fees earned 1,594,200

Miscellaneous expense 16,000

Rent expense 226,800

Supplies 20,100

Supplies expense 42,600

Taxes expense 33,600

Utilities expense 135,000

Wages expense 890,200

Instructions 1. Prepare an income statement for the current year ended April 30, 20Y6. 2. Prepare a retained earnings statement for the current year ended April 30, 20Y6. 3. Prepare a balance sheet as of April 30, 20Y6.

E1-24 Financial statement items

Though the McDonald’s menu of hamburgers, cheeseburgers, the Big Mac ® , Quarter Pounder ® , Filet-O-Fish ® , and Chicken McNuggets ® is easily recognized, McDonald’s financial statements may not be as familiar. The following items were adapted from a recent annual report of McDonald’s Corporation:

1. Accounts payable 2. Accrued interest payable 3. Capital stock outstanding 4. Cash 5. Cash provided by operations 6. Food and packaging costs used in operations 7. Income tax expense 8. Interest expense 9. Inventories 10. Long-term debt payable 11. Net income 12. Net increase in cash 13. Notes payable 14. Notes receivable 15. Occupancy and rent expense 16. Payroll expense 17. Prepaid expenses not yet used in operations 18. Property and equipment 19. Retained earnings 20. Sales

E2-2 Accounting equation The Walt Disney Company had the following assets and liabilities (in millions) at the end of 20Y1.

Assets $72,124

Liabilities 34,739

a. Determine the stockholders’ equity of Walt Disney at the end of 20Y1.

b. If assets increased by $2,774 million and stockholders’ equity increased by $2,374 million, what was the increase or decrease in liabilities for the year 20Y2?

c. What were the total assets, liabilities, and stockholders’ equity at the end of 20Y2?

d. Based upon your answer to (c), does the accounting equation balance?

E2-4 Accounting equation One item is omitted in each of the following recent year summaries of balance sheet and income statement data (in millions) for Google and Verizon Communications as of December 31, Year 1 and Year 2.

Google Verizon

Year 1:

Assets $57,851 (e)

Liabilities (a) (f)

Stockholders’ equity (b) $ 86,912

Increase (Decrease) in assets, liabilities,

and stockholders’ equity during Year 2:

Assets $14,723 (g)

Liabilities $2,819 $ 11,460

Stockholders’ equity $11,904 (h)

Year 2:

Assets (c) $230,461

Liabilities $14,429 (i)

Stockholders’ equity (d) $85,908

Determine the amounts of the missing items (a) through (i).

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Engineering Solutions
Finance Homework Help
Top Academic Tutor
Homework Guru
Exam Attempter
Quick Mentor
Writer Writer Name Offer Chat
Engineering Solutions

ONLINE

Engineering Solutions

I am an elite class writer with more than 6 years of experience as an academic writer. I will provide you the 100 percent original and plagiarism-free content.

$49 Chat With Writer
Finance Homework Help

ONLINE

Finance Homework Help

I have read your project description carefully and you will get plagiarism free writing according to your requirements. Thank You

$32 Chat With Writer
Top Academic Tutor

ONLINE

Top Academic Tutor

I am an experienced researcher here with master education. After reading your posting, I feel, you need an expert research writer to complete your project.Thank You

$16 Chat With Writer
Homework Guru

ONLINE

Homework Guru

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$32 Chat With Writer
Exam Attempter

ONLINE

Exam Attempter

I am a PhD writer with 10 years of experience. I will be delivering high-quality, plagiarism-free work to you in the minimum amount of time. Waiting for your message.

$30 Chat With Writer
Quick Mentor

ONLINE

Quick Mentor

Being a Ph.D. in the Business field, I have been doing academic writing for the past 7 years and have a good command over writing research papers, essay, dissertations and all kinds of academic writing and proofreading.

$47 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Cover letter for civil engineer - Wabco code sid 14 fmi 4 - Loop invariant practice problems - Journal of heart centered therapies - Economics chapter 8 business organizations answers - Business decisions making process - Homework and design inc gardena ca - Bio 220 online scavenger hunt for success - How much does an arbonne envp make - Plants structure and function question and answer - Strayer university apa format - 4 h's and 4 t's - Ethical guidelines for statistical practice - Two out of scope functionalities for the mobile ordering app - Kent institute calendar 2019 - Proposal for implementing it security management - Essential lifespan development 5th edition - Scania fault codes pdf - Which type of targeting strategy is zipcar pursuing - A level biology topic 4 - How can bmw improve its marketing strategy - Amreeka youtube - Buzz lightyear intro speech - Mapped thesis statement - Http www bbc co uk news technology 34066941 - Hayes enterprises began 2015 with a retained - 6 2 volleyball drills - Presentation - The ammeter in the figure figure 1 reads 4.0 a - The norton introduction to literature portable 13th edition pdf - What is the atomic radius of aluminum - MYASTHENIA GRAVIS - Guidelines for Writing Your Letter to the Admissions Committee - Psychology study design 2016 - Owasp secure coding practices 2018 - Per your request, i am enclosing his comments. - Vroom yetton jago model pdf - Queen mab speech translation - Roman underground heating system - Discussion (700 words) - Ati the communicator clients displaying aggressive behavior - Healthcare Information Technology Trends - Game informer subscription number - Silicon labs cp210x driver - Heat exchanger hydrotest procedure pdf - Hazardous area classification chart - Tips to beat bulimia - C++ I programming - Alaska fly fishing expedition case study - Primavera p6 activity report - Managing uncertainty in supply chain safety inventory - Excel document - What is the fattest state in america supersize me - 15 o'clock military time - Elementary differential equations and boundary value problems 11e pdf - How many electrons are in a neutral beryllium atom - Commonwealth supported place rmit - How to work out volt drop in a cable - Titration curves of polyprotic acids lab report - Communication and utilization of nursing research ppt - Good applicants with bad grammar - What is integration according to entwistle - Journal entry 16 on course - Promo code for troy university application fee 2017 - How does starbucks measure performance - Why was jesus a role model - The time period assumption states that - Descriptive research definition marketing - Meadow green primary school - Costco epsom salt australia - Express a as a product of elementary matrices - IT incident response wk6 team activity - Quotes about john proctor - The rainbow crow and the silent songbird answers - Describe the management style at rondell data corporation - How to find x intercept of standard form - Servant leadership vs followership army - International computer driving license syllabus - Nutrition soap note example - Pathophysiology (24 hours) - Liebeck v mcdonald's case brief - North star casino jobs - American center yangon volunteer - Chemical storage cabinet blackwoods - Given the network plan that follows compute the early - What is the opposite of euphony - Rl circuit lab report conclusion - Bangladesh high commission sydney camp 2019 - Thermo king code 17 repair - Example picot question for medication errors - Bank account program in java using constructors - Essentials of business law 8th edition pdf - How to prove a relation is antisymmetric - FINAL PROJECT 1 - Illawarra tree top walk address - Stephens ink thermometer for sale - Saini v all saints haque centre - 27.1 rules for capitalization practice 1 answers - Greek code of draco - Slutzker center for international services