FINC600 The Balance Sheet.docx - FINC600 The Balance Sheet...

This preview shows page 1 - 3 out of 3 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Fundamentals of Financial Management
The document you are viewing contains questions related to this textbook.
Chapter 3 / Exercise 1
Fundamentals of Financial Management
Brigham
Expert Verified
FINC600 The Balance SheetGeneral Ledger for XYZ CompanyThe following is a portion of the general ledger for XYZ Company as of December 31, 20X1, and the statement of stockholders' equity for XYZ Company for the year ended December 31, 20X1. Use this information to answer questions (1) through (5).XYZ CompanyStatement of Stockholders' Equity (partial)For the year ended December 31, 20X1CommonStockRetainedEarningsBalance at January 1, 20X1$50,000$63,000Issuance of common stock32,000+ Net income for the year ended 12/31/X114,000- Dividends paid(4,900)Balance at December 31, 20X1$_______$_______XYZ CompanyGeneral Ledger (partial)As of December 31, 201XAmountAssetsCash$ 53,000Accounts receivable15,000Supplies8,800Prepaid rent36,000Equipment (net)115,600LiabilitiesAccounts payable$11,300
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Fundamentals of Financial Management
The document you are viewing contains questions related to this textbook.
Chapter 3 / Exercise 1
Fundamentals of Financial Management
Brigham
Expert Verified
Salaries payable2,500Interest payable1,900Utilities payable

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture