Presented below are data for Bandkok Corp. 2010 2011 2012 Assets, January 1 $5,4

ID: 2359055 • Letter: P

Question

Presented below are data for Bandkok Corp. 2010 2011 2012 Assets, January 1 $5,400 $6,480 ? Liabilities, January 1 3,240 ? $3,888 Stockholders' Equity, Jan. 1 ? ? 4,050 Dividends 1,080 810 918 Common Stock 972 864 920 Stockholder's Equity, Dec. 31 ? ? 3,078 Net Income 1,080 864 ? Stockholders' Equity at January 1, 2011 is A) $1,998 B) $3,132 C) $1,890 D) $3,186 Can you explain why this answer is B? Also, can you explain how to get: Stockholder's Equity, December 31? Liabilities, January 1? Stockholder's Equity, Dec. 1? Stockholder's Equity, Dec. 31? Net Income 2012?

Explanation / Answer

Presented below are data for Bangkok Corp. 2012

2013

Assets, January 1

$5,400

$6,480

Liabilities, January 1

3,240

Stockholders' Equity, Jan. 1

Dividends

1,080

810

Common Stock

972

864

Stockholders' Equity, Dec. 31

Net Income

1,280

864

Stockholders' Equity at January 1, 2013 is

a. $3,332.

b. $2,160.

c. $2,360.-correct answer

d. $3,440.