Missing Amounts from Balance Sheet and Income Statement Data One item is omitted
ID: 2492908 • Letter: M
Question
Missing Amounts from Balance Sheet and Income Statement Data
One item is omitted from each of the following summaries of balance sheet and income statement data for four different corporations.
Determine the amounts of the missing items. (Suggestion: First determine the amount of increase or decrease in stockholders' equity during the year.)
128,000
Carbon Krypton Fluorine Radium Beginning of the year: Assets $333,000 $250,000 $100,000 ? Liabilities 118,000 130,000 76,000 120,000 End of the year: Assets 495,000 350,000 90,000 248,000 Liabilities 160,000 110,000 80,000 136,000 During the year: Additional issuance of capital stock ? 50,000 10,000 40,000 Dividends 7,500 16,000 ? 60,000 Revenue 90,000 ? 115,000 112,000 Expenses 39,000 64,000 122,500128,000
Explanation / Answer
Carbon Krypton Fluorine Radium Beginning of the year: Assets $333,000 $250,000 $100,000 268,000 Liabilities 118,000 130,000 76,000 120,000 End of the year: Assets 495,000 350,000 90,000 248,000 Liabilities 160,000 110,000 80,000 136,000 During the year: Additional issuance of capital stock 76500 50,000 10,000 40,000 Dividends 7,500 16,000 6500 60,000 Revenue 90,000 150,000 115,000 112,000 Expenses 39,000 64,000 122,500 128,000