Please help with the following question and explain your works. Thank you very m

Question

Please help with the following question and explain your works. Thank you very much!

7.The information is provided in a table for Alpha Company and Bravo Company. Alpha Compan Bravo Compan Balance 12/31/15 $605,000 Assets Liabilities Equit $142,000 436,000 305,000 Balance 12/31/16 Assets Liabilities Equi 610,000 170,000 440,000 184,000 460,000 During the Year: 100,000 90,000 Additional Stock Issued Dividends paid to shareholders Revenue Expenses 60,000 655,000 590,000 620,000 What are the amounts for each of the following missing items?

Explanation / Answer

1) Alpha company's 12/31/15 Liabilities = 605000-436000 = $169000

2) Alpha company's 12/31/16 Assets = 184000+460000 = $644000

3) Alpha company's 12/31/16 additional stock issued = 436000+65000-60000-460000 = $19000

4) Bravo Company's 12/31/15 Assets = 142000+305000= $447000

5) Bravo company's 12/31/16 revenue =

Net income = 305000+100000-90000-440000 = 125000

Revenue = 620000+125000 = $745000

Bravo company's 12/31/16 revenue = $745000

4)

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---