Options for A: Assets = Liabilities + Expenses Assets = Liabilities + Stockholde

Question

Options for A: Assets = Liabilities + Expenses Assets = Liabilities + Stockholders' Equity Assets = Revenue + Expenses Liabilities = Assets + Stockholders' Equity Stockholders' Equity = Assets + Liabilities Stockholders' Equity = Assets + Revenue
Options for B: Net Income = Assets – Expenses Net Income = Assets – Liabilities Net Income = Revenue – Expenses Net Income = Revenue – Liabilities Net Income = Assets – Expenses Net Income = Assets – Liabilities Net Income = Revenue – Expenses Net Income = Revenue – Liabilities
Options for C: Ending RE = Beginning RE + Dividends – Net Income Ending RE = Beginning RE + Net Income – Dividends Ending RE = Beginning RE + Net Income – Expenses Ending RE = Beginning RE + Revenue – Dividends Ending RE = Beginning RE + Dividends – Net Income Ending RE = Beginning RE + Net Income – Dividends Ending RE = Beginning RE + Net Income – Expenses Ending RE = Beginning RE + Revenue – Dividends
Options for D: Ending Cash = Beginning Cash + CF from Operating Activities + CF from Investing Activities + CF from Financing Activities Ending Cash = Beginning Cash + Expenses + Liabilities + Dividends Ending Cash = Beginning Cash + Revenue + Assets + Net Income Ending Cash = Beginning Cash + CF from Operating Activities + CF from Investing Activities + CF from Financing Activities Ending Cash = Beginning Cash + Expenses + Liabilities + Dividends Ending Cash = Beginning Cash + Revenue + Assets + Net Income Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses Net Income Dividends Beginning Retained Earnings Ending Retained Eamings Cash Flows from Operating Activities 2,500 Cash Flows from Investing Activities (1,900) Cash Flows from Financing Activities (1350) Beginning Cash Ending Cash $19,100 4,200 4,900 11,400 9,650 1,750 450 4,400 5,700 1,900 1,150

Explanation / Answer

a) Options for a=Assets=Liabilities+Stockholder's Equity ASSETS= LIABILITIES Stock holder's Equity $                                                   19,100.00 $                                      14,200.00 $                                                        4,900.00 $                                                   19,100.00 $                                      14,200.00 $                                                        4,900.00 b) Options for b=Net Income=Revenue-Expenses Revenue(-) Expenses Net Income $                                                   11,400.00 $                                         9,650.00 $                                                        1,750.00 $                                                   11,400.00 $                                         9,650.00 $                                                        1,750.00 c) Options for C =Ending Retained Earnings=Beginning Retained Earnings+Net Income-Dividend Ending Retained Earnings= Beginning Retained Earnings+ Net Income(- ) Dividend $                                                     5,700.00 $                                         4,400.00 $                                                        1,750.00 $                                                          450.00 $                                                     5,700.00 $                                         4,400.00 $                                                        1,750.00 d) Options for d =Ending Cash=Beginning Cash+ CF from Operating activities+CF from Investing activities+CF from Financing Activities Ending Cash Balance= Beginning Cash Balance+ Cash Flow from Operating Activities + Cash flow from Investing Activites + Cash flow from Financing Activites $                                                     1,150.00 $                                         1,900.00 $                                                        2,500.00 $                                                    (1,900.00) $                                               (1,350.00) $                                                     1,150.00 $                                         1,900.00 $                                                        2,500.00 $                                                    (1,900.00) $                                               (1,350.00)

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