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For the two unrelated situations below, compute the unknown amounts indicated by the letters (a) and (b). (1) (2) Beginning: Assets $42,000 $61,000 Liabilities 18,000

For the two unrelated situations below, compute the unknown amounts indicated by the letters (a) and (b).

(1)

(2)

Beginning:

Assets

$42,000

$61,000

Liabilities

18,000

24,000

Ending:

Assets

48,000

68,000

Liabilities

15,000

(b)

During the year:

Stock issued

(a)

4,000

Revenues

28,000

45,000

Dividends paid

5,000

3,000

Expenses

16,000

37,000

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