JD
November 7, 2011
Brief Exercises BE1-7 to BE1-9
BE1-7
Indicate which debate you would examine to find each of the following items: income avouchment (I), symmetry sheet (B), retained earnings statement (R), or statement of cash flows (C).
(a) Revenue during the period. (I) Income teaching
(b) Supplies on hand at the closing of the course of study: (B) Balance Sheet
(c) Cash received from issuing vernal bonds during the period. (C) Statement of Cash Flows
(d) Total debts outstanding at the cobblers last of the period. (B) Balance Sheet
BE1-8
Use the basic accounting equation to assist these questions.
(a) The liabilities of Cummings Company are $90,000 and the stockholders fair play is $230,000. What is the add together of Cummings Company join assets? $320,000. Assets=Liabilities + Stockholders Equity
(b) The integrality assets of Haldeman Company are $170,000 and its stockholders virtue is $90,000. What is the issue forth of its total liabilities: $80,000
(c) The total assets of Dain Co. are $800,000 and its liabilities are tint to one-fourth of its total assets. What is the amount of Dain Co.s stockholders equity?
$600,000
BE1-9
At the beginning of the year, Fuqua Company had total assets of $800,000 and total liabilities of $500.000.
(a) If total assets increased of $150,000 during the year and total liabilities rock-bottom $80,000, what is the amount of stockholders equity at the end of the year? $530,000
(b) During the year, total liabilities increased $100,000 and stockholders equity decreased $70,000. What is the amount of the total assets at the end of the year? $830,000
(c) If total assets decreased $90,000 and stockholders equity increased $110,000 during the year, what is the amount of liabilities at eh end of the year? $300,000
| (a)Â Â | Revenue during the period. Answer: (I) Income Statement|
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