Two items are omitted from each of the following summaries of balance sheet and

Question

Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2014, Steven Craig and Georgia Enterprises. Determine the missing amounts. Steven Craig Beginning of year: Total Assets 97,000 Total Liabilities 85,000 Total Stockholders Equity 12,000 End of year: Total assets 160,000 Total Liabilities 120,000 Total Stockholders Equity 40,000 Changes during year in Stockholders Equity: Additional Investment __(a)___ Dividends 24000 Total Revenues 215,000 Total Expenses 175,00. Determine additional Investments (a)

Explanation / Answer

Hi, If you like my answer, please rate my answer first and according to my answer...that way only I can earn points. Thanks Steven Craig and Georgia Enterprises. Determine the missing amounts. Steven Craig Georgia Enterprises Beginning of year: Total assets $97,000 $129,000 Total liabilities 85,000 75000 Total stockholders’ equity = $97000 - $85000 = $12000, $12900 - $75000 = $54000 End of year: Total assets 160,000 180,000 Total liabilities 120,000 50,000 Total stockholders’ equity 40,000 130,000 Changes during year in stockholders’ equity: Additional investment (b) 25,000 Dividends 24,000 (d) Total revenues 215,000 100,000 Total expenses 175,000 55,000

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