Question

introduction to financial accounting

CP 2-2 The following list shows totals for all accounts for four different companies: A, B, C, and D. In each case, one amount is omitted. ABCD Cash $100 $ 72 $ ? $ 20 Truck 200 130 71 200 Accounts payable 50 10 5 10 Bank loan 75 ? 25 61 Common stock 175 50 100 ? Net income ? 20 6 10 Required: In each case, compute the missing figure.

Answer 1

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AN 22 Amiun in Let's draw Tab Accounts A cash 72 65 20 100 Truek 200 30 200 ALLOUn Payable 5 50 Bank oan 75 61 122 25 Common stoCK 39 50 75 100 NeA Income 20 7 We know thar Asse eguals to liabiliHes. ASSe items:cash TruuK Liahitty tems Accounpaya ble Bank loan Commin sto uK ANet Intome (Postitive vanuo) AS Pen Balante &heet: cakh + 7nu = Acevuns poyabu + Ban loan tComme Stou net lncome C posinve lu

ci Net Income f Cempany-A neA Inume =oo t200)- (50 + 75 + 175) ) Ban loan of company-A 12+130)10t50+20) 122 ( Cash of company- (525t/00 t6)-71 Cash 65 CoMmOn StoUA of company-D Common stou-20+200) - (ro 1 10 139

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