The following amounts (in thousands) were taken from the December 31 statements of financial position of Maple
Question:
The following amounts (in thousands) were taken from the December 31 statements of financial position of Maple Leaf Foods Inc.:
___________________________2012......................... 2011
Total assets...................$3,243,696.................$2,940,459
Total liabilities.................2,285,697...................2,010,346
Instructions
(a) How much is Maple Leaf Foods' shareholders' equity at December 31, 2012 and 2011?
(b) Write Maple Leaf Foods' accounting equation for each year.
(c) Calculate the change in total shareholders' equity for the year ended December 31, 2012.
(d) Assume that Maple Leaf Foods had the following changes to its shareholders' equity in 2012: dividends of $22,229 thousand, and other shareholders' equity items of $(65,181) thousand. How much profit did it report in 2012?
Step by Step Answer:
a Assets Liabilities Shareholders equity 2012 3243696 2285697 957999 20...View the full answer
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
