Question

Total Liabilities ob formation for the Companya cirst determine 2.000 Mer income and stockholders'equity for EN WIR die ar the b a nd end of a year. These data, exclusive W e are as follows Total Assets Brothew $75.000 $400,000 End of the year 0.000 300.000 On the basis of the ding data and the following additional informas in the n ew for loss of each company for the year. (Hint First of increase or dec i n stockholders' equity during the year) $90,000 were paid idends were paid. $90,000 were parts Company Chang: No adiconal capital stock was issued, and no dividends w Company Henry No additional capital stock was issued, but dividends of so Company Nagel Capital stock of $125,000 was issued, but no dividends were Company Wine Capital sock of $125,000 was issued, and dividends of $90 stores in the United 1 statement dels Obj. wa E1-Accounting equation and income statement Staples Inc, SPES) is a leading office products distributor, with retail stones States, Canada, Asia Europe and South America. The following financial sta were adapted from recent financial statements of Staples: Year 2 in thousands) $10,313,728 55.00.600 Year 1 (in thousands) $11,174,876 5,042,613 Total assets Total abilities 5.305.059 Total stockholders'equity 22,492,360 Sales Cost of goods sold 16,691,324 5,518,665 Operating expenses Other expense net 14,236 Income tax expense 133,609 .. Determine the missing data indicated for (1) and (2). h. Using the income statement data for Year 2, determine the amount of net income of Obj. 4 E1-10 Balance sheet items From the following list of selected items taken from the records of Flip Flop Sandals Incas of a specific date, identify those that would appear on the balance sheet. 1. Accounts Receivable 2. Common Stock 3. Cash 4. Fees Earned 5. Rent Expense 6. Salaries Expense 7. Salaries Payable 8. Supplies 9. Supplies Expense 10. Utilities Expense Obj. 4 E1-11 Income statement items Based on the data presented in Exercise 1-10, identify those items that would the income statement hat would appeal

Answer 1

E1-10. The items that appear in balance sheet are

Ele 9 a. We know Total that, Assets - liabilities EaShareholder Most equity Year - 10174816 = 5042 613 + (2) Ver 1 0 - $6132263) Year @ 10313128 = (1) + 5305059 (c) $ 5008669) 6. Net Incomes = Total Income - Total expense. Y loss) & Sales - coas - operating expenses - other expenses (Net) - Income Tax ( 46691304 IN .22492360 -16691324-5518665 - 101614236 - 133609 - $134526. do hodno 14342 LONE EN Edato 49

• Accounts receivable
• Common stock
• Cash
• Salaries payable
• Supplies

E1-11. The items that appear in income statement are

• Fees earned
• Rent expense
• Salaries expense
• Supplies expense
• Utilities expense