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    Financial statement category and relationships: find amounts

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    "Indicate in the space provided the category of each item and the financial
    statement on which the item can usually be found." Category
    Description: Category Financial Statement Asset (A)
    Accumulated Depreciation Liability (L)
    Long term Debt Owners' Equity (OE)
    Equipment Revenue {R}
    Loss on sale of short term investments Expense (E)
    Net Income Gain (G)
    Merchandise inventory Loss (LS)
    Other accrued liabilities
    Dividends Paid
    Cost of Goods sold
    Additional paid in capital
    Interest Income

    Calculate missing amounts for each firm.
    Firm A Firm B Firm C
    Total assets, 12/31/10 ................................................ ? $435,000 $155,000
    Total Liabilities, 12/31/10 ......................................... $80,000 ? 75,000
    Paid-in capital, 12/31/10 ........................................... 55,000 59,000 45,000
    Retained Earnings, 12/31/10 .................................... ? 186,000 ?
    Net income for 2010 .................................................. 68,000 110,000 25,500
    Dividents declared and paid during 2010.............. 12,000 ? 16,500
    Retained earnings, 1/1/10 ........................................ 50,000 124,000 ?

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    https://brainmass.com/business/financial-statements/financial-statement-category-relationships-find-amounts-349318

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    Solution Summary

    The financial statement category and relationships are examined. The expert finds the missing amounts.

    $2.19

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