Question
Dean Co. Loiselle, Inc. Bailey Corp. Beginning Assets . . . . . . . . . . . . $ 76 $ 41 ?
| Dean Co. | Loiselle, Inc. | Bailey Corp. | |
| Beginning | |||
| Assets . . . . . . . . . . . . | $ 76 | $ 41 | ? |
| Liabilities . . . . . . . . . . | 51 | 15 | 2 |
| Common stock . . . . . | 5 | 6 | 7 |
| Retained earnings . . | ? | 20 | 10 |
| Ending | |||
| Assets . . . . . . . . . . . . | ? | $60 | $ 21 |
| Liabilities . . . . . . . . . . | 52 | 27 | ? |
| Common stock . . . . . | 5 | ? | 4 |
| Retained earnings . . | 33 | ? | ? |
| Income Statement | |||
| Revenues . . . . . . . . . | $227 | ? | $ 26 |
| Expenses . . . . . . . . . | 211 | 154 | ? |
| Net income . . . . . . . . | ? | ? | ? |
| Statement of retained earnings | |||
| Beginning RE . . . . . . | $ 20 | $ 20 | $ 10 |
| + Net income . . . . . . | ? | 20 | 6 |
| - Dividends declared | (3) | (17) | 0 |
| = Ending RE . . . . . . . | $33 | $23 | $16 |
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Auditing An International Approach
Authors: Wally Smieliauskas, Amy Kwan, Kathleen Cogliano, Catherine Barrette
8th Canadian Edition
1259451275, 978-1259451270
