Assuming the following account balances, what is the missing value? Assets $1,150,000 Liabilities $588,000 Equity ?
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PB1.
LO 3.2Assuming the following account balances, what is the missing value?
Assets $1,150,000
Liabilities $588,000
Equity ?
Stockholders' equity: Stockholders' equity means the net assets available to shareholders after deducting all the liabilities from the total assets. Stockholders' equity include common stock, paid-in capital, preferred stock, retained earnings and treasury stock.
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- PB7. LO 3.4Identify the normal balance (Dr for Debit; Cr for Credit) and type of account (A for asset, L for liability, E for equity, E-rev for revenue, E-exp for expense, and E-eq for equity) for each of the following accounts. Normal balance Account type Utility Expense Accounts Receivable Interest Revenue Retained Earnings Land Sales Revenue1.3Comment on the following:1.3.1Cash flows from operating activities R756 000(4 marks)1.3.2Increase in receivables (R396 000)(4 marks)1.3.3Cash flows from investing activities (R1 368 000)(4 marks)1. Calculate the missing value (in $) according to the accounting equation. Assets Liabilities Owner's Equity $ $332,200 $215,000 2. Calculate the missing value (in $) according to the accounting equation. Assets Liabilities Owner's Equity $15,808,000 $8,338,500 $
- PA5. LO 4.2Indicate what impact the following adjustments have on the accounting equation, Assets = Liabilities + Equity (assume normal balances). Impact 1 Impact 2 A. Unearned Fees adjusted from $7,000 to $5,000 B. Recorded depreciation expense of $12,000 C. Prepaid Insurance adjusted from $18,500 to $6,300 D. Supplies account balance $500, actual count $220PB2. LO 3.2LO 3.4Assuming the following account balance changes for the period, what is the missing value? Assets $73,000 Liabilities $33,000 Common Stock $10,000 Dividends $5,000 Revenue $120,000 Expenses ?1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
- 1. What anount should be reported as total assets after restatement for hyperinflation? a. 5,150,000 b. 3,950,000 c. 4,800,000 d. 4,850,000 2. What amount should be reported as total liabilities after restatement for hyperinflation? a. 2,400,000 b. 1,200,000 c. 1,325,000 d. 1,500,000 3. What amount should be reported as retained earnings after adjusting for hyperinflation? a. 2,350,000 b. 2,750,000 c. 3,550,000 d. 2,625,000Find out the missing value assets in an accounting equation if liabilities is OMR 320000 and capital is OMR 119000 Select one : O a . OMR 439000 assets O b . OMR 201000 assets O c . OMR 349000 assets O d . OMR 102000 assets Clear my choicePROBLEM 1 ASSETS LIABILITIES OWNER’S EQUITY a. 760,000 360,000 ? b. 860,000 ? 592,000 c. ? 108,000 760,000 d. 626,600 376,240 ? e. ? 800,000 (100,000)
- For each of the following independent cases, fill in the blank with the appropriate dollar amount. Assets = Liabilities + Owners' Equity Case 1 $147,700 = $65,600 + $ ? Case 2 $508,200 = $ ? + $194,200 Case 3 $ ? = $170,400 + $199,200Expalin the meaning of the following terms by providing examples in each case: 1.1. Time value of money 1.2. Single amount 1.3. Mixed stream 1.4. Annuities1. For Total current assets (on the Balance Sheet), use an Excel function to calculate the value. 2. For Total fixed assets (on the Balance Sheet), use operation signs to calculate the value. 3. As the CFA for Filler Construction, you notice the given Balance Sheet is suspiciously missing accounts that have an opposite normal balance of otheraccounts in their same category. a. What are these types of accounts called? b. add the following accounts where they should be listed: Allowance forDoubtful Accounts of $50, Accumulated Depreciation of $3450, and Treasury Stock of $450. Note: ensure these values are properly visually denoted ashaving the opposite normal balance. 4. Now you see that it is mising required formatting for a U.S. public company's external financial statement! Add in the required underlines where neededand change the number formatting to meet requirement.5. What is a first "check" to determine if this Balance Sheet is balanced? 6. What are two financial ratios that can…