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please answe examples 5 and 6 Example #15 During the year, a firm reported an increase in assets of $34 For the year, revenues were
please answe examples 5 and 6
Example #15 During the year, a firm reported an increase in assets of $34 For the year, revenues were $196, expenses were $131, and dividends were $73. During the year. $17 in common stock was issued. No other equity transactions occurred. What was the increase in liabilities for the year? Example #16 At January 1, the firm reported $487 in liabilities For the year, the firm reported revenues of $538. expenses of $508, and dividends of $25. In addition, during the year, the firm issued $44 in common stock Assets at year-end were $1,200 and liabilities increased during the year by $13. What were the assets at January 1? BEGINNING BALANCES ASSETS = LIABILITIES + OWNERS EQUITY CHANGES Contributed Capital Retained Earnings Net Income Revenus Expens Treasury Stock Dividends ENDING BALANCES ASSETS = LIABILITIES + OWNERS EQUITY Step by Step Solution
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