1 answer

The information presented here represents selected data from the December 31, 2019, balance sheets and income...

Question:

The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm Bock C $ 261.000 $ 312,000 123,000 84,000 48,000 33,000 etences Total assets, 12/31/19 Total abilities, 12/31/19 Pald.in capital 12/31/19 Retained earnings, 12/31/19 Net Income for 2019 Dividends declared and paid during 2019 Retained earings, 1/1/19 35,400 111,600 66,000 48.000 40.800 7.2001 30,000 16,800 74,400

Answers

Fill missing amount

Firm A Firm B Firm C
Total assets 12/31/19 48000+33000+63600 = 144600 261000 312000
Total liabilities 12/31/19 48000 261000-111600-35400 = 114000 123000
Paid in capital 12/31/19 33000 35400 84000
Retained earnings 12/31/19 30000+40800-7200 = 63600 111600 312000-123000-84000 = 105000
Net income for 2019 40800 66000 48600
Dividend declared and paid during 2019 7200 28800 16800
Retained earnings 1/1/19 30000 74400 73200
.

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