(Part Level Submission) Problem 1-SA Financial statement information about four

Question

(Part Level Submission) Problem 1-SA Financial statement information about four different companies is as follows. (a) Determine the missing amounts. (Hint: For example, to solve for(a), Assets-Liabilities-Stockholders' Equity = $28,000.) January 1, 2019 Assets Liabilities Stockholders' equity $ 84,000 $123,200 (g) $168,000 56,000 84,000 0) 67,200 50,400 112,000 December 31, 2019 224,000 Assets Liabilities Stockholders' equity 153,440 61,600 84,000 89,600 44,800 145,600 156,800 Stockholders' equity changes in year 16,800 16,800 11,200 560,000 Additional investment 11,200 15,680 11,200 392,000 369,600 Dividends 470,400 Total expenses 431,200 383,040

Explanation / Answer

Workings

January 1 ,2019 Culver Sherdian Michelangelo Raphael Assets 84000 123200 134400 168000 Liabilities 56000 56000 84000 56000 Stockholder Equity 28000 67200 50400 112000 December 31 2019 Assets 106400 153440 224000 246400 Liabilities 61600 84000 78400 89600 Stockholder Equity 44800 69440 145600 156800 Stock holder Equity Changes in Year Additional Investment 11200 16800 11200 16800 Dividends 11200 22400 15680 11200 Total Revenue 392000 470400 409920 560000 Total Expense 369600 431200 383040 532000

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