Exercise 1-4B Key definitions and missing information in the accounting equation Required a. Match the terms (identified as a through g) with the definitions and phrases (marked 1 through 7). For example, the term a. Investors" matches with definition 4. Company or individual who gives assets or services in exchange for security certificates representing ownership interest." a. Investors b. Managerial Accounting c. Profit 1. Value added by transforming resources into products or services desired by customers. 2. Individuals or institutions that have loaned goods or services to a business. d. Expenses e. Common Stock f. Creditors 3. Basic class of corporate stock that carries no preferences as to claims on assets or dividends; certificates that evidence ownership in a company. 4. Company or individual who gives assets or services in exchange for security certificates representing ownership interests. 5. Statement that lists the assets of a business and the corresponding claims liabilities and equity) on those assets. 6. Branch of accounting that provides information useful to internal decision makers and managers in operating an organization. 7. Economic sacrifices (decreases in assets or increases in liabilities) that are incurred in the process of generating revenues. g. Balance Sheet . Calculate the missing amounts in the following table. + Company A B D Assets $ ? 50,000 85,000 215,000 Liabilities $30,000 ? 20,000 60,000 Stockholders' Equity Common Retained Stock Earnings $ 50,000 $62,000 10,000 25,000 ? 40,000 100,000