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    Assets Liabilties + Paid in Capital + (BEG Retained Earnings + Net Income - Dividends End Retained Earnings) Firm A

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    The document presents financial data from three firms including assets, liabilities, paid in capital, beginning retained earnings, net income, dividends, and ending retained earnings. It also shows the basic accounting equation that assets equal liabilities plus paid in capital plus beginning retained earnings plus net income minus dividends which equals ending retained earnings. Specific calculations are shown for each firm to demonstrate the use of the accounting equation.

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    Assets Liabilties + Paid in Capital + (BEG Retained Earnings + Net Income - Dividends End Retained Earnings) Firm A

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    8 views2 pages
    The document presents financial data from three firms including assets, liabilities, paid in capital, beginning retained earnings, net income, dividends, and ending retained earnings. It also shows the basic accounting equation that assets equal liabilities plus paid in capital plus beginning retained earnings plus net income minus dividends which equals ending retained earnings. Specific calculations are shown for each firm to demonstrate the use of the accounting equation.

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    The document presents financial data from three firms including assets, liabilities, paid in capital, beginning retained earnings, net income, dividends, and ending retained earnings. It also shows the basic accounting equation that assets equal liabilities plus paid in capital plus beginning retained earnings plus net income minus dividends which equals ending retained earnings. Specific calculations are shown for each firm to demonstrate the use of the accounting equation.

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    8 views2 pages

    Assets Liabilties + Paid in Capital + (BEG Retained Earnings + Net Income - Dividends End Retained Earnings) Firm A

    Uploaded by

    C
    The document presents financial data from three firms including assets, liabilities, paid in capital, beginning retained earnings, net income, dividends, and ending retained earnings. It also shows the basic accounting equation that assets equal liabilities plus paid in capital plus beginning retained earnings plus net income minus dividends which equals ending retained earnings. Specific calculations are shown for each firm to demonstrate the use of the accounting equation.

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    of 2

    Understanding financial statement relationships 

    The information presented here represents selected data from the December 31, 2019, b

    Firm A Firm B Firm C


    Assets 482000 870000 310000
    Liabilties 160000 380000 150000
    Paid in Capital 110000 118000 90000
    Beg RE 100000 248000 52000
    NI 136000 220000 50000
    DIV 24000 96000 32000
    End RE 212000 372000 70000

    Assets = Liabilties + Paid in Capital + (BEG Retained Earnings + Net Income - Dividends = End Retained Earnings )

    Firm A:

    End Retained Earnings = Beg RE + NI - DIV


    212000

    Assest = Liabilties + Shareholder Equity


    482000

    Firm B:

    Liabilties= Assets- Paid In Capital - End RE


    380000

    DIV =Beg RE + NI - END Re


    96000

    Firm C:

    End Retained Earnings = Assets - Liabilties - Paid In Capital


    70000

    Beg Retained Earnings = End Reatined Earnings - Net Income + DIV


    52000
    a from the December 31, 2019, balance sheets and income statements for the year then ended for three firms:

    tained Earnings )

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