Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liab

Question

Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liabilities Stockholders Equity - $28,730.) anuary 1, 2015 Assets Liabilities Stockholders' equity $ 86,190 $126,412 s 137904 (g) 86,190 51,714 $172,380 57,460 57460 (d) 68,952 57460 0) 114,920 28730 (a) December 31, 2015 Assets Liabilities Stockholders' equity 109174 (b) 63,206 45,968 157,440 229,840 252824 (k) 91,936 86,190 71250 (e) 17,238 80444 (h) 149,396 160,888 Stockholders' equity changes in year Additional investment Dividends Total revenues Total expenses 17,238 11,492 574,600 11,492 11,492 402,220 379,236 16,089 482,664 442,442 393,026

Explanation / Answer

Donatello Company:

January 1, 2015:

Stockholders’ Equity = Assets - Liabilities
Stockholders’ Equity = $86,190 - $57,460
Stockholders’ Equity = $28,730

December 31, 2015:

Assets = Liabilities + Stockholders’ Equity
Assets = $63,206 + $45,968
Assets = $109,174

Change in Stockholders’ Equity = Stockholders’ Equity, December 31, 2015 - Stockholders’ Equity, January 1, 2015
Change in Stockholders’ Equity = $45,968 - $28,730
Change in Stockholders’ Equity = $17,238

Change in Stockholders’ Equity = Additional Investment + Total Revenues - Total Expenses - Dividends
$17,238 = Additional Investment + $402,220 - $379,236 - $11,492
Additional Investment = $5,746

Leonardo Company:

January 1, 2015:

Assets = Liabilities + Stockholders’ Equity
$126,412 = Liabilities + $68,952
Liabilities = $57,460

December 31, 2015:

Assets = Liabilities + Stockholders’ Equity
$157,440 = $86,190 + Stockholders’ Equity
Stockholders’ Equity = $71,250

Change in Stockholders’ Equity = Stockholders’ Equity, December 31, 2015 - Stockholders’ Equity, January 1, 2015
Change in Stockholders’ Equity = $71,250 - $68,952
Change in Stockholders’ Equity = $2,298

Change in Stockholders’ Equity = Additional Investment + Total Revenues - Total Expenses - Dividends
$2,298 = $17,238 + $482,664 - $442,442 - Dividends
Dividends = $55,162

Michelangelo Company:

January 1, 2015:

Assets = Liabilities + Stockholders’ Equity
Assets = $86,190 + $51,714
Assets = $137,904

December 31, 2015:

Assets = Liabilities + Stockholders’ Equity
$229,840 = Liabilities + $149,396
Liabilities = $80,444

Change in Stockholders’ Equity = Stockholders’ Equity, December 31, 2015 - Stockholders’ Equity, January 1, 2015
Change in Stockholders’ Equity = $149,396 - $51,714
Change in Stockholders’ Equity = $97,682

Change in Stockholders’ Equity = Additional Investment + Total Revenues - Total Expenses - Dividends
$97,682 = $11,492 + Total Revenues - $393,026 - $16,089
Total Revenues = $495,305

Raphael Company:

January 1, 2015:

Assets = Liabilities + Stockholders’ Equity
$172,380 = Liabilities + $114,920
Liabilities = $57,460

December 31, 2015:

Assets = Liabilities + Stockholders’ Equity
Assets = $91,936 + $160,888
Assets = $252,824

Change in Stockholders’ Equity = Stockholders’ Equity, December 31, 2015 - Stockholders’ Equity, January 1, 2015
Change in Stockholders’ Equity = $160,888 - $114,920
Change in Stockholders’ Equity = $45,968

Change in Stockholders’ Equity = Additional Investment + Total Revenues - Total Expenses - Dividends
$45,968 = $17,238 + $574,600 - Total Expenses - $11,492
Total Expenses = $534,378

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