Question: Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement

Missing Amounts from Balance Sheet and Income Statement Data

One item is omitted in each of the following summaries of balance sheet and income statement data for four different corporations, AL, CO, KS, and MT. Enter the missing amounts.

Line Item Description AL CO KS MT
Beginning of the year:
Assets $422,000 $493,700 $177,200 $fill in the blank 1
Liabilities 253,200 256,700 141,800 229,800
End of the year:
Assets 523,300 691,200 194,900 474,900
Liabilities 227,900 217,200 141,800 260,400
During the year:
Additional issue of capital stock fill in the blank 2 98,700 17,700 76,600
Dividends 29,500 29,600 fill in the blank 3 112,300
Revenue 139,300 fill in the blank 4 205,600 214,500
Expenses 76,000 128,400 218,000 245,100

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!