The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations,
Question:
The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Elder Corporation and Holden Enterprises, are presented below for 2010.
Instructions
Determine the missing amounts. Assume all changes in stockholders' equity are due to changes in retainedearnings.
Transcribed Image Text:
Elder Corporation Holden Enterprises Beginning of year Total assets Total liabilities Total stockholders' equity $130,000 70,000 180,000 $110,000 70,000 End of year Total assets Total liabilities Total stockholders equity 120,000 50,000 55,000 Changes during year in retain ed earnings Dividends Total revenues Total expenses 5,000 215,000 165,000 80,000
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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