P1.5 (LO 4, 5) Writing Financial statement information about four different companies is as follows. Crosby Stills Nash Young Company Company Company Company January 1, 2020 Assets HK$ 900,000 HK$1,100,000 (g) HKS1,500,000 Liabilities 650,000 (d) 600000 HKS 750,000 (j) 500000 Equity (a) 25000. 500,000 450,000 1,000,000 December 31, 2020 (k) 2200000 Assets (b) 950000 1,370,000 2,000,000 Liabilities 550,000 750,000 (h) 700000 800,000 Equity 400,000 628000 1,300,000 1,400,000 Equity changes in year Additional investment (c) 150,000 100,000 150,000 Dividends 100,000 (f) 140,000 100,000 Total revenues 3,500,000 4,200,000 (i) 5,000,000 Total expenses 3,300,000 3,850,000 3,420,000 (1)

Instructions

a. Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liabilities = Equity = HKS250,000.)

b. Prepare the retained earnings statement for Stills Company. Assume beginning retained earnings was HKS200,000.

c. Write a memorandum explaining the sequence for preparing financial statements and the interrelation- ship of the retained earnings statement to the income statement and statement of financial position.

29 Paid for the gasoline purchased on account on June 17. 30 Paid 1,000 for employee salaries. Instructions a. Tota a. Show the effects of the above transactions on the accounting equation using the following format. + Liabilities EC Assets Accounts Notes Accounts Share Rev. Date Cash + Receivable + Supplies + Equipment - Payable + Payable + Capital + Include margin explanations for any changes in the Retained Earnings account in your analysis. b. Prepare an income statement for the month of June. b. Net c. Prepare a statement of financial position at June 30, 2020. C. Cast P1.5 (LO 4,5) Writing Financial statement information about four different companies is as follows. Determi amounts Crosby Stills Nash Young earning Company Company Company Company January 1, 2020 Assets HK$ 900,000 HK$1,100,000 HKS1,500,000 Liabilities 650,000 (d) (HK$ 750,000 Equity (a) SUO 500,000 450,000 1,000,000 December 31, 2020 Assets (b) qsuve 1,370,000 2,000,000 Liabilities 550,000 750,000 (h) now 800,000 Equity 400,000 1,300,000 1,400,000 Equity changes in year Additional investment (c) 150,000 100.000 150,000 Dividends 100,000 (f) 140,000 100,000 Total revenues 3.500.000 4,200,000 (1) 5,000,000 Total expenses 3,300,000 3,850,000 3,420,000 (1) (3)/26620 () 5000 (k) 220VONO Instructions a. Determine the missing amounts. (Hint: For example, to solve for (a). Assets - Liabilities = Equity HK$250.000.) b. Prepare the retained carnings statement for Stills Company. Assume beginning retained earnings was HK$200,000 c. Write a memorandum explaining the sequence for preparing financial statements and the interrelation- ship of the retained earnings statement to the income statement and statement of financial position. Expand Your Critical Thinking inancial Reporting Problem: TSMC, Ltd. (TWN) T1.1 The financial statements of TSMC are presented in Appendix A. The complete annual report, cluding the notes to the financial statements, is available at the company's website