ACG-2021C Unit 1 Exam

Below is balance sheet information for five independent situations. Calculate the answer to each. 1. A company reports total assets of $2.000 and total liabilites of $440. What is the amount of stockholders' equity? 2. A company reports total liabilities of $3,100 and stockholders' equity of $700. What is the amount of total assets? 3. A company reports total assets of $3,400 and total stockholders' equity of $390. What is the amount of total liabilities? 4. A company reports an increase in assets of $2.410 and an increase in liabilities of $380. What is the amount of the change in stockholders' equity? 5. A company reports an increase in liabilities of $340 and a decrease in stockholders' equity of $1,240. What is the amount of the change in total assets? Complete this question by entering your answers in the tabs below. A company reports total assets of $2,000 and total liabilities of $440. What is the amount of stockholders' equity? A company purchases supplies on account for $2,500. Indicate the amount of increases and decreases in the accounting equation. (Decreoses to account classifications should be entered as a negative.) How many of these accounts have a normal debit balance? Multiple Choice Four sin Seven Five Which of the following accounts would normally have a debit balance and appear in the balance sheet? Multiple Choice Dividends. Salaries Expense. Accounts Receivable Deferred Revenue