Question: Please answer question 1-57 Identify each behavior as ethical (E) or unethical (U). Applying the Fundamental Accounting Equation At the beginning of 2013. Huffer Corporation
Please answer question 1-57
Identify each behavior as ethical (E) or unethical (U). Applying the Fundamental Accounting Equation At the beginning of 2013. Huffer Corporation had total assets of $232, 400, total liabilities of $94.200. common stock of $50,000, and retained earnings of $88, 200. During 2013, Huffer had net income of $51, 750, paid dividends of $10,000, and issued additional common stock for mm $15,000. Huffer s total assets at the end of 2013 were $285, 500. Required: Calculate the amount of liabilities that Huffer must have at the end of 2013 in order for the balance sheet equation to balance. Accounting Relationships Information for Beethoven Music Company is given below. Required: Use the relationships in the balance sheet, income statement, and retained earnings statement to determine the missing values. Arrangement of the Income Statement Powers Wrecking Service demolishes old buildings and other structures and sells the salt aged materials. During 2013, Powers had $425,000 of revenue from demolition services and $137,000 of revenue from salvage sales. Powers also had $1, 575 of interest income from investments. Powers incurred $243, 200 of wages expense, $24, 150 of depreciation expense, $48, 575 of
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