Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Applying Interrelations of Financial Statements Fill in the missing amounts, a through t, for each of the three separate companies. Case 2 Case 1
Applying Interrelations of Financial Statements Fill in the missing amounts, a through t, for each of the three separate companies. Case 2 Case 1 Case 3 Net income, 2020 $50,400 (h)$ 225,000 $162,000 Retained earnings, December 31, 2020 (a) 54,000 1,566,000 (n) 594,000 x Retained earnings, December 31, 2019 18,000 1,404,000 458,100 Dividends, 2020 14,400 63,000 (0) 26,100 x Common stock, December 31, 2020 (b) 144,000 (i) 774,000 270,000 Total stockholders' equity, December 31, 2020 201,600 (j) 2,340,000 864,000 Other comprehensive income, 2020 (c) (1,800) Accumulated other comprehensive income, December 31, 2019 5,400 0 (p) 0 23,400 4,500 Accumulated other comprehensive income, December 31, 2020 3,600 0 (9) 27,900 Comprehensive income, 2020 (d) 48,600 (k) 225,000 185,400 Total assets, December 31, 2020 (e) 367,200 3,960,000 1,584,000 Total assets, excluding cash, December 31, 2020 (f) 349,200 (1) 3,843,000 1,485,000 Total liabilities, December 31, 2020 165,600 1,620,000 (r) 720,000 Cash, December 31, 2019 9,000 135,000 (s) 81,000 Cash, December 31, 2020 Change in cash, 2020 18,000 (m) 117,000 (t) 99,000 (g) 9,000 (18,000) 18,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started