13-8 13-9 essay
Brief Exercise 1-7
Your answer is correct.
Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows.
(a)
Balance sheet
Revenue during the period.
(b)
Income statement
Supplies on hand at the end of the year.
(c)
Statement of cash flows
Cash received from issuing new bonds during the period.
(d)
Balance sheet
Total debts outstanding at the end of the period.
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Brief Exercise 1-8
Your answer is correct.
Use the basic accounting equation to answer these questions.
(a) The liabilities of Daley Company are $93,820 and the stockholders’ equity is $255,900. What is the amount of Daley Company’s total assets?
Total assets
349,700 add liabilities and stockholders equity =assets
(b) The total assets of Laven Company are $181,100 and its stockholders’ equity is $82,800. What is the amount of its total liabilities?
Total liabilities
$
98,300 asset minus stockholders equity = liabilities
(c) The total assets of Peterman Co. are $901,000 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
Stockholders’ equity
$
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(c) The total assets of Peterman Co. are $901,000 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
Stockholders’ equity$ 675,750 divide 4 into the assets take that answer minus it from assets = SEquity
Your answer is correct.
Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows.
(a)
Balance sheet
Revenue during the period.
(b)
Income statement
Supplies on hand at the end of the year.
(c)
Statement of cash flows
Cash received from issuing new bonds during the period.
(d)
Balance sheet
Total debts outstanding at the end of the period.
SHOW ANSWER
LINK TO TEXT
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.
Brief Exercise 1-8
Your answer is correct.
Use the basic accounting equation to answer these questions.
(a) The liabilities of Daley Company are $93,820 and the stockholders’ equity is $255,900. What is the amount of Daley Company’s total assets?
Total assets
349,700 add liabilities and stockholders equity =assets
(b) The total assets of Laven Company are $181,100 and its stockholders’ equity is $82,800. What is the amount of its total liabilities?
Total liabilities
$
98,300 asset minus stockholders equity = liabilities
(c) The total assets of Peterman Co. are $901,000 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
Stockholders’ equity
$
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(c) The total assets of Peterman Co. are $901,000 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
Stockholders’ equity$ 675,750 divide 4 into the assets take that answer minus it from assets = SEquity