Solution-Balance sheet and income statement data

Balance sheet and income statement data

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Reference no: EM13521417

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 the following four different corporations:

	Freeman	Heyward	Jones	Ramirez
Beginning of the year:
Assets	$ 900,000	$490,000	$115,000	(d)
Liabilities	360,000	260,000	81,000	$120,000
End of the year:
Assets	1,260,000	675,000	100,000	270,000
Liabilities	330,000	220,000	80,000	136,000
During the year:
Additional issuance of	(a)	150,000	10,000	55,000
Dividends	75,000	32,000	(c)	39,000
Revenue	570,000	(b)	115,000	115,000
Expenses	240,000	128,000	122,500	128,000

Determine the missing amounts, identifying them by letter. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.)

Reference no: EM13521417

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Balance sheet and income statement data

Reference no: EM13521417

Reference no: EM13521417

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