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The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms.
| The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms. | ||||||||
| Required: Calculate the missing amounts for each firm | ||||||||
| Firm A | Firm B | Firm C | ||||||
| Total assets 12/31/13 | $407,000 | $539,000 | $332,000 | |||||
| Total liabilities, 12/31/13 | 211,000 | 147,000 | ||||||
| Paid-in captial, 12/31/13 | 70,000 | 34,000 | ||||||
| Retained eranings 12/31/13 | 300,000 | |||||||
| Net income for 2013 | 74,000 | 117,000 | ||||||
| Dividens declared and paid during 2013 | 47,000 | 10,000 | 68,000 | |||||
| Retained eranings 1/1/13 | 84,000 | 42,000 | ||||||
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IRS Audit Protection And Survival Guide Trucking Industry
Authors: Daniel J. Baran, Gerald F. Bernard, James E. Brown
1st Edition
0471166413, 978-0471166412
