Answer:
Carbon Krypton Fluorine Radium
Beginning of the year:
Assets $333,000 $250,000 $100,000 $268,000
Liabilities 118,000 130,000 76,000 120,000
Equity at the beginning $215,000 $120,000 $24,000 $148,000
End of the year:Assets 495,000 350,000 90,000 248,000
Liabilities 160,000 110,000 80,000 136,000
Equity at the end of the year $335,000 $240,000 $10,000 $112,000
During the year:
Additional capital stock 76,500 50,000 10,000 40,000
Dividends 7,500 16,000 16,500 60,000
Revenue 90,000 150,000 115,000 112,000
Expenses 39,000 64,000 122,500 128,000
Net income $51,000 $86,000 ($7,500) ($16,000)
Explanation:
a) Data and Calculations:
Carbon Krypton Fluorine Radium
Beginning of the year:
Assets $333,000 $250,000 $100,000 $268,000
Liabilities 118,000 130,000 76,000 120,000
Equity at the beginning $215,000 $120,000 $24,000 $148,000
End of the year:Assets 495,000 350,000 90,000 248,000
Liabilities 160,000 110,000 80,000 136,000
Equity at the end of the year $335,000 $240,000 $10,000 $112,000
During the year:
Additional capital stock 76,500 50,000 10,000 40,000
Dividends 7,500 16,000 16,500 60,000
Revenue 90,000 150,000 115,000 112,000
Expenses 39,000 64,000 122,500 128,000
Net income $51,000 $86,000 ($7,500) ($16,000)
Formulas for finding the missing items:
1. Equity at the end = Equity at the beginning + Additional capital + Net Income - Dividends
2. Net Income = Revenue - Expenses
3. Equity = Assets - Liabilities
