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Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement
Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for four different corporations, AL, CO, KS, and MT. Enter the missing amounts. COKS MT Beginning of the year: Assets $253,600 152,200 $294,200 153,000 $119,200 $ 234,600 X 95,400 142,700 Liabilities End of the year: Assets 314,500 411,900 129,400 131,100 95,400 294,800 161,700 Liabilities 136,900 During the year: Additional issue of capital stock 55,800 58,800 47,600 Dividends 17,800 83,800 45,600 Revenue 11,900 -4,700 x 165,700 146,600 17,700 -317,900 x 76,500 69,700 133,100 152,200 Expenses Feedback Check My Work Recall that the accounting equation can be rearranged to calculate the missing amounts. Stockholders' equity increases with additional stock issues and also when the retained earnings balance increases through net income and gains. Stockholders' equity decreases when dividends are declared and paid and also when the retained earings balance decreases through net losses
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