Be1-7,_Be1-8,_Be1-9

BE1-7 | | | | Correct. | | | Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows. | (a) Revenue during the period. | | (b) Supplies on hand at the end of the year. | | (c) Cash received from issuing new bonds during the period. | | (d) Total debts outstanding at the end of the period. | BE1-8 | | | | Correct. | | | Use the basic accounting equation to answer these questions. (a) | The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets' | (b) | The total assets of Haldeman Company are $170,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities' | (c) | The total assets of Dain Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Dain Co.'s stockholders' equity' | | ------------------------------------------------- Assets | = | ------------------------------------------------- Liabilities | + | ------------------------------------------------- Stockholders' Equity | (a) | $ | | $ | | $ | (b) | $ | | $ | | $ | (c) | $ | | $ | | $ | BE1-9 | | | | Correct. | | | At the beginning of the year, Fuqua Company had total assets of $800,000 and total liabilities of $500,000. (a) | If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of stockholders' equity at the end of the year' | (b) | During the year, total liabilities increased $100,000 and stockholders' equity decreased $70,000. What is the amount of total assets at the end of the year. | (c) | If total assets decreased $90,000 and stockholders' equity increased $110,000 during the year, what is the amount of total liabilities at the end of the year' | | ------------------------------------------------- Assets | = | ------------------------------------------------- Liabilities | + | ------------------------------------------------- Stockholders' Equity | (a) | $ | | $ | | $ | (b) | $ | | $ | | $ | (c) | $ | | $ | | $ |