This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Independen t Companies Total Revenues Total Expense s Net Income Total Assets Total Liabilities Stockholders Equity A $600,000 $ $120,000 $800,00 $420,000 $ B $ $80,000 $30,000 $ $60,000 $30,000 C $190,000 $135,000 $ $450,000 $ $200,000 D $ $70,000-$30,000 $100,00 $45,000 $ Part 3: Other than independent companies, explain what each of the columns in Part 2 represents, i.e., define each of the sixrevenues, expenses, net income, assets, liabilities, stockholders equity. Also explain the purpose of the Balance Sheet and the Income Statement....
View Full Document
This note was uploaded on 11/11/2011 for the course ACC 201 taught by Professor Bokmier during the Spring '10 term at Michigan State University.
- Spring '10