Financial Accounting > QUESTIONS & ANSWERS > ACCT paper week 1 homework assignment with answers. (All)

ACCT paper week 1 homework assignment with answers.

Document Content and Description Below

Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $44,000; Liabilities = $2... 4,000; Dividends = $2,400; Revenues = $12,800; Expenses = $8,400. 1. Calculate Net Income. 12,800 – 8,400 = 4,400 Net Income 2. Calculate Stockholders’ Equity. Assets = Liabilities + Equity 44,000= 24,000 + _____ Equity = 20,000 Exercise 2: Each of the following independent situations represents amounts shown on the four basic financial statements. Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements. 1. Revenues = $24,000; Expenses = $16,500; Net income = _7,500_. 2. Increase in stockholders' equity = $16,000; Issuance of common stock = $10,000; Net income = $10,500; Dividends = __4,500__. 3. Assets = $22,400; Stockholders' equity = $17,000; Liabilities = __5,400____. 4. Total change in cash = $23,000; Net operating cash flows = $31,000; Net investing cash flows = ($14,000); Net financing cash flows = ___6,000____. Exercise 3: Below are the account balances for Parker Account [Show More]

Last updated: 2 years ago

Preview 1 out of 4 pages

Buy Now

Instant download

We Accept:

We Accept
document-preview

Buy this document to get the full access instantly

Instant Download Access after purchase

Buy Now

Instant download

We Accept:

We Accept

Reviews( 0 )

$18.00

Buy Now

We Accept:

We Accept

Instant download

Can't find what you want? Try our AI powered Search

116
0

Document information


Connected school, study & course


About the document


Uploaded On

Aug 03, 2021

Number of pages

4

Written in

Seller


seller-icon
A grade master

Member since 4 years

39 Documents Sold

Reviews Received
0
0
0
0
2
Additional information

This document has been written for:

Uploaded

Aug 03, 2021

Downloads

 0

Views

 116

Document Keyword Tags

More From A grade master

View all A grade master's documents »

$18.00
What is Scholarfriends

In Scholarfriends, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.

We are here to help

We're available through e-mail, Twitter, Facebook, and live chat.
 FAQ
 Questions? Leave a message!

Follow us on
 Twitter

Copyright © Scholarfriends · High quality services·