Reference no: EM132463749

Baltimore Company's complete assets and liabilities are

Accounts Receivable          $800,

Equipment                      $10,000,

Accounts Payable              $4,900,

Prepaid Rent                      $2,000,

Supplies                               $400,

Bank Loan                            $2,100, and

Tools                                     $300.

Baltimore's total liabilities are: (All account balances are normal.)

Baltimore Company's complete assets and liabilities are

Accounts Receivable                       $1,850,

Equipment                                    $10,600,

Accounts Payable                            $8,300,

Prepaid Rent                                    $2,500,

Supplies                                              $525,

Bank Loan                                          $3,700, and

Tools                                                   $435.

Baltimore's total equity is: (All account balances are normal.)

Question 1: Baltimore Company experienced a total increase in stockholders' equity of $26,000 during the current year. Stockholders' equity was increased by additional issuances of $54,000 capital stock during the year. No dividends were paid. Expenses incurred during the year were $103,000. How much was Baltimore's revenue for the year?

Question 2: Baltimore Company experienced an increase in total assets of $19,500 during the current year. During the same time period, total liabilities increased $4,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income

Question 3: Annapolis Corporation's trial balance included debits to expense accounts of $130,000, credits to revenue accounts of $195,000, and debits to the Dividends account of $50,000. Based on this information, what is the amount of the company's net income or loss. Enter a loss as a negative number.

Question 4: Baltimore Company reports total assets and total liabilities of $231,000 and $105,000, respectively, at the conclusion, of its first year of business. The company earned $75,500 during the first year, and distributed $26,000 to shareholders as dividends. How much did shareholders initially invest in the business?