Question
20) Missing Amounts from Balance Sheet and Income Statement Data One item is omitted from each of the following summaries of balance sheet and income
20) Missing Amounts from Balance Sheet and Income Statement Data
One item is omitted from each of the following summaries of balance sheet and income statement data for the following four different corporations. Enter the missing amounts. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.)
Carbon | Krypton | Fluorine | Radium | |||||||
Beginning of the year: | ||||||||||
Assets | $360,400 | $407,300 | $158,600 | $ | ||||||
Liabilities | 216,200 | 211,800 | 120,500 | $197,900 | ||||||
End of the year: | ||||||||||
Assets | 446,900 | 570,200 | 142,700 | 408,900 | ||||||
Liabilities | 194,600 | 179,200 | 126,900 | 224,200 | ||||||
During the year: | ||||||||||
Additional issuance of common stock | 81,500 | 15,900 | 66,000 | |||||||
Dividends | 25,200 | 24,400 | 96,700 | |||||||
Revenue | 118,900 | 182,300 | 184,700 | |||||||
Expenses | 64,900 | 105,900 | 195,100 | 211,100 |
3)
Accounting Equation
Campbell Soup Co. (CPB) had the following assets and liabilities (in millions) at the end of Year 1.
Assets | $8,113 | ||
Liabilities | 6,498 |
a. Determine the stockholders equity of Campbell Soup at the end of Year 1. $ million
b. If assets decreased by $24 million and liabilities increased by $211 million, what was the increase or decrease in stockholders equity for the Year 2? $ million decrease
c. What were the total assets, liabilities, and stockholders equity at the end of Year 2?
Total assets | $ million |
Total liabilities | $ million |
Total stockholders' equity | $ million |
d. Based upon your answer to (c), does the accounting equation balance? Yes
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