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Missing Amounts from Balance Sheet and Income Statement Data One item is omitted from each of the following summaries of balance sheet and income statement data for the following four different corporations, Enter the missing amounts
Missing Amounts from Balance Sheet and Income Statement Data
One item is omitted from each of the following summaries of balance sheet and income statement data for the following four different corporations, Enter the missing amounts. (Hint: First determine the amount of increase or decrease in stockholders` equity during the year.) Enter negative values as negative numbers.
Carbon Krypton Fluorine Radium
Beginning of the year: Assets $508,100 $579,200 $213,400
Liabilities 304,900 301,200 End of the year: Assets 630,000 810,900 Liabilities 274,400 254,800 During the year: Additional issuance of common stock
Dividends Revenue Expenses
162,200 $276,700 192,100 571,800 170,700 313,500
115,800 21,300 92,200 35,600 34,300 L J 135,300 167,700 I I 245,500 258,400 91,500 150,600 262,500 295,100
Expert Solution
1) Carbon
Additional Issuance of Common Stock = Ending Equity + Dividends - Net Income - Beginning Equity
= ($630,000-$274,400) + $35,600 - ($167,700-$91,500)-($508,100-$304,900)
Additional Issuance of Common Stock = $111,800
2) Krypton
Revenue = Ending Equity + Dividends + Expenses - Beginning Equity - Additional Issuance of Common Stock
= ($810900-$254800) + $34800 + $150600-($579200-$301200)-$115800
Revenue = $347,700
3) Fluorine
Dividends = Beginning Equity+ Additional Issuance of Common Stock + Net Income - Ending Equity
= ($213400+$162200) + $21300 + ($245500-$262500)- ($192100-$170700)
Withdrawl from the business = $358,500
4) Radium
Beginning Asset = Ending Equity + Dividends- Net Income -Additional Issuance of Common Stock + Beginning Liability
=(571800-313500) + 135300 - (258400-295100) - 92200 + 276700
Beginning Asset =614800
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