ACC 561 Week 1 Individual WileyPlus Exercises
This paperwork ACC 561 Week 1 Individual WileyPlus Exercises BE1 7, BE1 8, BE1 9 includes answers to these exercises:
C: 9-35 Allocation of Precontribution Gain Solution
1. Brief Exercise BE1-7. 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.
2. Brief Exercise BE1-8. Use the basic accounting equation to answer these questions.
(a) The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets?
(b) The total assets of Haldeman Company are $170,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities?
(c) The total assets of Dain Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Dain Co.'s stockholders' equity?
3. Brief Exercise BE1-9. At the beginning of the year, Fuqua Company had total assets of $800,000 and total liabilities of $500,000.
(a) If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of stockholders' equity at the end of the year?
(b) During the year, total liabilities increased $100,000 and stockholders' equity decreased $70,000. What is the amount of total assets at the end of the year.
(c) If total assets decreased $90,000 and stockholders' equity increased $110,000 during the year, what is the amount of total liabilities at the end of the year? Economics - General Economics ACC/561 ACCOUNTING
ENTIRE COURSE + FINAL EXAM
PHOENIX UNIVERSITY
Preparing for college is very important, as you don't want to just walk into the experience blindly. You want to make the most out of your college days, and in order t...
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Preparing for college
C: 9-35 Allocation of Precontribution Gain Solution
1. Brief Exercise BE1-7. 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.
2. Brief Exercise BE1-8. Use the basic accounting equation to answer these questions.
(a) The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets?
(b) The total assets of Haldeman Company are $170,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities?
(c) The total assets of Dain Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Dain Co.'s stockholders' equity?
3. Brief Exercise BE1-9. At the beginning of the year, Fuqua Company had total assets of $800,000 and total liabilities of $500,000.
(a) If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of stockholders' equity at the end of the year?
(b) During the year, total liabilities increased $100,000 and stockholders' equity decreased $70,000. What is the amount of total assets at the end of the year.
(c) If total assets decreased $90,000 and stockholders' equity increased $110,000 during the year, what is the amount of total liabilities at the end of the year? Economics - General Economics ACC/561 ACCOUNTING
ENTIRE COURSE + FINAL EXAM
PHOENIX UNIVERSITY
Preparing for college is very important, as you don't want to just walk into the experience blindly. You want to make the most out of your college days, and in order t...
For downloading more tutorials visit - https://bitly.com/12BwfLA
Preparing for college