A certain company had the following:
Total Assets at Dec. 31, 2012: $1,000K;
Total Liabilities at Dec. 31, 2012: $400K;
Total Contributed Capital at Dec. 31, 2012: $200K;
Total Retained Earnings at Dec. 31, *2011*: $450K;
Total Revenues for 2012: $300K; Total Dividends for 2012: $150K.
Required: How much is this company's Total Owners' Equity as of December 31, 2012?© BrainMass Inc. brainmass.com October 10, 2019, 5:12 am ad1c9bdddf
I have created a model in Excel showing you the three tables you need to work this ...
I have created a model in Excel showing you the three tables you need to work this type of problem. First, you create a mini-balance sheet and solve for the missing piece. Then you create a statement of changes in Retained Earnings. Finally, you create a mini-income statement. Then you have what you need to address the requirements.