Each of the following independent situations represents amounts shown on the four basic financial statements. 1. Revenues
Question:
Each of the following independent situations represents amounts shown on the four basic financial statements.
1. Revenues = $31,500; Expenses = $19,600; Net income = ____________.
2. Increase in stockholders’ equity = $20,400; Issuance of common stock = $12,000; Net income = $14,300; Dividends = ____________.
3. Assets = $27,200; Stockholders’ equity = $15,200; Liabilities = ____________.
4. Total change in cash = $11,000; Net operating cash flows = $25,000; Net investing cash flows = ($22,000); Net financing cash flows = ____________.
Required:
Fill in the missing blanks using your knowledge of amounts that appear on the financial statements.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Step by Step Answer:
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann