The information is provided in a table for Alpha Company and Bravo Company. Alph
ID: 2599569 • Letter: T
Question
The information is provided in a table for Alpha Company and Bravo Company.
Alpha Company
Bravo Company
Balance 12/31/15
Assets
$60,000
Liabilities
$15,000
Equity
43,600
32,000
Balance 12/31/16
Assets
70,000
Liabilities
18,400
20,000
Equity
90,000
50,000
During the Year:
Additional Stock Issued
10,000
Dividends paid to shareholders
3,000
5,000
Revenue
95,000
Expenses
59,000
60,000
What are the amounts for each of the following missing items?
1. Alpha Company's 12/31/15 Liabilities
2. Alpha Company's 12/31/16 Assets
3. Alpha Company's 12/31/16 Additional Stock Issued
4. Bravo Company's 12/31/15 Assets
5. Bravo Company's 12/31/16 Revenues
Alpha Company
Bravo Company
Balance 12/31/15
Assets
$60,000
Liabilities
$15,000
Equity
43,600
32,000
Balance 12/31/16
Assets
70,000
Liabilities
18,400
20,000
Equity
90,000
50,000
During the Year:
Additional Stock Issued
10,000
Dividends paid to shareholders
3,000
5,000
Revenue
95,000
Expenses
59,000
60,000
Explanation / Answer
1 Asset=Liabilities+Equity 60000=Liabilities+43600 Liabilities=60000-43600=16400 2 Asset=Liabilities+Equity=18400+90000=108400 3 Equity as on 12/31/15 43600 Add:Revenues 95000 138600 Less: Dividends paid to shareholders 3000 Expenses 59000 Equity as on 12/31/16 90000 152000 Additional stock issued 13400 4 Asset=Liabilities+Equity=15000+32000=47000 5 Equity as on 12/31/15 32000 Add:additional stock issued 10000 42000 Less: Dividends paid to shareholders 5000 Expenses 60000 Equity as on 12/31/16 50000 115000 Revenue 73000
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.