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Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.
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Subjective Short Answer Use the information below to answer the question that follows. All nine transactions for Ralston Spor
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Answer #1

Note - As per Chegg Policy we are allowed to attempt 4 sub question in 1 question.

Q.1 Liabilities to Stockholder's Equity -

Ratio Computation Year 2 Year 1 1 Liabilities to Stockholders Equity Total Liabilities Total Stockholders Equity $ 128,250

Q.2 Total Asset -

2 Total Asset II Total Liabilities + Total Stockholders Equity $132,000 + $244,000 II $376,000

Q.3 Income Statement Determines the profitability of the company.

3 a. Income Statement

Q.4 Earnings Revenue - Earning Revenue will increase Assets if income earned by the company and cash received or on credit the Accounts Receivables assets will go up. and revenue will increase stockholder's equity.

4 a. Increase Asset, Increase Stockholders Equity

Q.5 Resources owned by the company are called Assets and owed by company are called liabilities.

5 C. Assets

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