Reference no: EM133024146

Questions -

Q1. Baltimore Company's complete assets and liabilities are Accounts Receivable $3,350, Equipment $9,800, Accounts Payable $5,500, Prepaid Rent $2,450, Supplies $525, Bank Loan $3,650, and Tools $585. Baltimore's total equity is: (All account balances are normal.)

Q2. Baltimore Company experienced a total increase in stockholders' equity of $113,000 during the current year. Stockholders' equity was increased by additional issuances of $42,000 capital stock during the year. No dividends were paid. Expenses incurred during the year were $16,000. How much was Baltimore's revenue for the year?

Q3. The information provided in a table for Bravo Company.

Balance 12/31/15

Assets ???

Liabilities $117,000

Equity $155,000

Balance 12/31/16

Assets $295,000

Liabilities $125,000

Equity $170,000

During the Year:

Additional Stock Issued $10,000

Dividends paid to shareholders $5,000

Revenue ???

Expenses $175,000

What is the amount for Bravo Company's revenue in 2016?

Q4. The unearned rent account has a balance of $86,000. If $22,000 of the balance is unearned at the end of the accounting period, the amount of the adjusting entry is?