Question

Below are incomplete balance sheets of ABC Corporation (figures in millions).
a. Compute the missing amounts, and show the balance sheet at year-end 1, 2, 3, and 4. Show your computations.
b. What transactions might explain the change in total assets between years 1 and 2?
c. What transactions might explain the change in retained earnings between years 2 and 3?
d. What transactions might explain the change in total liabilities plus owners’ equity between years 3 and 4?


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  • CreatedMarch 27, 2015
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