The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations,
Question:
The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Bates Corporation and Wilson Enterprises, are presented below for 2012.
InstructionsDetermine the missing amounts. Assume all changes in stockholders?? equity are due to changes in retained earnings.
Transcribed Image Text:
Bates Corporation Wilson Enterprises Beginning of year Total assets $110,000 70,000 (a) $150,000 (d) 70,000 Total liabilities Total stockholders' equity End of year Total assets (b) 180,000 55,000 Total liabilities Total stockholders' equity Changes during year in retained earnings Dividends 120,000 60,000 (e) (c) 215,000 165,000 5,000 (f) Total revenues Total expenses 80,000
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a Assets Liabilities Stockholders Equity 110000 70000 a ...View the full answer
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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