Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

in N / A . Also, N / A does not equal 0 . Liabilities Total Liabilities and equity , N

in "N/A". Also, "N/A" does not equal 0.
Liabilities
Total Liabilities and
equity , N/A N/A
Additional information:
Cash from financing in 2011 includes: (i) a cash outflow of dividend $500,(ii) a cash
inflow from issuance of new stock $5,000,(iii) a cash outflow from repaying a note
payable $6,500.
Cash from "investing activity" in 2011 relates to the purchase of additional equipment
in cash. No other equipment was purchased in 2011.
Depreciation expense in 2011 amounted to $2,000.
Required:
Compute the missing numbers (A)-(F) in the balance sheet and income statement.
A. PPE net (1231?2010)(2 point)
B. Cash (12/31/2011)(2 points)
C. PPE, net (12/31/2011)(2 points)
D. Retained Earnings (12/31/2011)(2 points)
E. Other Expense (2010)(2 points)
F. Change in Cash (2011)(2 points)
G. Notes payable (12/31/2011)(2 points)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach Chapters 1-26

Authors: Jeffrey Slater

8th Edition

0130911429, 978-0130911421

More Books

Students also viewed these Accounting questions