owesubject-Accounting PB 4. LO 2.1 Each of the following situations relates to a different company.1 Revenues2 Expenses3 GainsLosses714545 Net Income or (Loss)Company A Company B?$1,480,5001,518,300$455,490032,76032,130TransactionA. For each of these independent situations, find the missing amounts.B. How would stakeholders view the financial performance of each company? Explain.?039,690Received cash for sale of asset (no gain or loss)Cash distribution to ownerCash salesInvestment by ownersOwe vendor for inventory purchaseCompany C$103,95078,1204,7255,670?PB 5. LO 2.2 For each of the following independent transactions, indicate whether there was an increase,decrease, or no impact on each financial statement element.AssetsCompany D$1,054,116Liabilities?8,50539,312(58,275)Owners' Equity

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Description: owesubject-Accounting PB 4. LO 2.1 Each of the following situations relates to a different company.1 Revenues2 Expenses3 GainsLosses714545 Net Income or (Loss)Company A Company B?$1,480,5001,518,300$455,490032,76032,130TransactionA. For each of these

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PB 4. LO 2.1 Each of the following situations relates to a different company. 1 12345 2 3 Revenues Expenses Gains Losses 5 Net Income or (Loss) 4 Company A ? $455,490 0 32,760 32,130 Company B $1,480,500 1,518,300 ? 0 39,690 Company C $103,950 78,120 4,725 5,670 ? A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. Company D $1,054,116 ? 8,505 39,312 (58,275)

PB 4. LO 2.1 Each of the following situations relates to a different company. 1 12345 2 3 Revenues Expenses Gains Losses 5 Net Income or (Loss) 4 Company A ? $455,490 0 32,760 32,130 Company B $1,480,500 1,518,300 ? 0 39,690 Company C $103,950 78,120 4,725 5,670 ? A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain. Company D $1,054,116 ? 8,505 39,312 (58,275)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A B C D Revenues ? $1,480,500 $103,950 $1,054,116 Expenses $455,490 1,518,300 78,120 ? Gains 0 ? 4,725 8,505 Losses 32,760 0 5,670 39,312 Net income or (Loss) 32,130 39,690 ? (58,275) a. find the missing amounts indicated by a ? b. how would stakeholders view the financial performance of each company? (A,B,C,D) Explain
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