1. EX.01-20.ALGO (Algorithmic) eBook Show Me How Missing Amounts from Balance Sh

Question

1. EX.01-20.ALGO (Algorithmic) eBook Show Me How Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations. Enter the missing amounts. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Freeman Heyward Jones Ramirez Beginning of the year $533,100 319,900 Assets $623,700 $239,900 182,300 Liabilities 324,300 $290,300 End of the year Assets 661,000 873,200 215,900 599,900 Liabilities 287,900 274,400 191,900 329,000 During the year: Additional issuance of capital stock Dividends Revenue Expenses 124,700 37,400 24,000 37,300 175,900 96,000 96,800 141,900 270,800 309,600 275,900 162,200 295,100

Explanation / Answer

Fill in the blanks :

a) Beginning stockholder's equity = 533100-319900 = 213200

Ending stockholder's equity = 661000-287900 = 373100

Additional issuance of capital Stock = 213200+79900-37300-373100 = 117300

b) Beginning stockholder's equity = 623700-324300 = 299400

Ending stockholder's equity = 873200-274400 = 598800

Net income = 299400+124700-37400-598800 = 212100 (net income)

Revenue = 212100+162200 = 374300

c) Beginning stockholder equity = 239900-182300 = 57600

Ending stockholder's equity = 215900-191900 = 24000

Dividend = 57600+24000-19200-24000 = 38400

d) Ending stockholder's equity = 599900-329000 = 270900

Changes in equity = 96800+(270800-309600)-141900 = -83900

Beginning stockholder's equity = 270900+83900 = 354800

Assets = 354800+290300 = 645100

Freeman Heyward Jones Ramirez Beginning of the year: Assets 533100 623700 239900 645100 Liabilities 319900 324300 182300 290300 End of the year Assets 661000 873200 215900 599900 Liabilities 287900 274400 191900 329000 During the year Additional issuance of capital Stock 117300 124700 24000 96800 Dividends 37300 37400 38400 141900 Revenue 175900 374300 275900 270800 Expenses 96000 162200 295100 309600

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