FAH101H1 Lecture Notes - Mendicant Orders, Scrovegni Chapel
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Related Questions
1. For each of the independent? cases, computethe amounts? (in thousands) for the items indicated by letters.
Before completing each? case, define the following financialequations that we will need to solve for the missing amounts. Beginby selecting the formula to calculate net income.
Revenues | - | Expenses | = | Net income |
Select the formula to show the change in the retained earningsaccount.
Beginning retained earnings | + | Net income | - | Dividends | = | Ending retained earnings |
Select the formula to show the change in the? paid-in capitalaccount.
Beginning paid-in capital | + | Additional investment | = | Ending paid-in capital |
Select the labels of the expanded balance sheet equation.
Liabilities | + | Retained earnings | + | Paid-in capital | = | Total assets |
For each of the independent? cases, compute the amounts? (inthousands) for the missing? items, beginning with Case 1.
Case | 1 |
Revenues | $40 |
Expenses | 20 |
Dividends declared | 0 |
Additional investment by stockholders | 0 |
Net income | 20 |
Retained earnings | |
Beginning of year | 90 |
End of year | 110 |
Paid-in capital | |
Beginning of year | 35 |
End of year | 35 |
Total assets | |
Beginning of year | 150 |
End of year | 200 |
Total liabilities | |
Beginning of year | 25 |
End of year | 55 |
2 |
150 |
130 |
21 |
5 |
20 |
140 |
139 |
45 |
50 |
240 |
375 |
55 |
186 |
3 |
$330 |
240 |
15 |
40 |
122 |
30 |
250 |
198 |
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