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Homework answers / question archive / The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms

The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms

Accounting

The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms.

Required:

Calculate the missing amounts for each firm.

 

  Firm A Firm B Firm C
Total assets, 12/31/13 $404,000 $539,000 $333,000
Total liabilities, 12131/13 219,000 132,000  
Paid-in capital, 12/31/13 77,000 104,000 32,000
Retained earnings, 12/31/13 108,000 303,000  
Net income for 2013 84,000 88,000 116,000
Dividends declared and paid during 2013 52,000 27,000 69,000
Retained earnings, 1/1/13 76,000 242,000 34,000

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