a. Based on this information alone, can you determine whether White can pay a $2,000 cash
dividend? Why or why not?
b. Reconstruct the accounting equation for each company using percentages on the right side of
the equation instead of dollar values. Which
As of December 31, 2016, Moss Company had total cash of $195,000, notes payable of $90,500,
and common stock of $84,500. During 2017, Moss earned $42,000 of cash revenue, paid
$24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders.
Missing information in the accounting equation
Calculate the missing amounts in the following table.
The following account titles were drawn from the general ledger of Holt Food Supplies,
Incorporated (HFSI): Computers, Operating Expenses, Rent Revenue, Building, Cash,
Notes Payable, Land, Utilities Payable, Utilities Expense, Trucks, Gasoline Expense,