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Student Name:
Class:
67,700$
53,400$
Total
Common Retained Shareholders'
Stock Earnings Equity
1,200$ Accounts payable 4,400$
Problem 01-03
McGraw-Hill
Instructor
Income Statement
LONGHORN CORPORATION
Statement of Stockholders' Equity
LONGHORN CORPORATION
Service Revenue
Expenses:
Cost of goods sold
For the Year Ended December 31, 2021
Assets
Cash
Balance Sheet
For the Year Ended December 31, 2021
December 31, 2021
Liabilities
LONGHORN CORPORATION
1,200$ 67,700$
29,000 53,400
Given Data P01-03:
Year end amounts reported:
Cash
LONGHORN CORPORATION
Service revenue
Cost of goods sold
Equipment
Student Name:
Class:
(c) = 6,000$
Problem 01-04
McGraw-Hill
Instructor
On the Statement of Stockholders' Equity:
Suggested order of calculation:
Total
Common Retained Stockholders'
39,000$ Stock Earnings Equity
10,000$ 7,000$ 17,000$
(a) 1,100 1,100
Income Statement
Revenues
Beginning balance
Expenses
Salaries
Issuances
Statement of Stockholders' Equity
Given Data P01-04:
BULLDOG, INC.
Year Ended December 31, 2021
Year Ended December 31, 2021
BULLDOG, INC.
Student Name:
Class:
37,000$
7,000$
Correct!
Total
Common Retained Stockholders'
Stock Earnings Equity
16,000$ 7,300$ 23,300$
4,800$ 2,200$
CORNHUSKER COMPANY
For the Year Ended December 31, 2021
Statement of Stockholders' Equity
CORNHUSKER COMPANY
For the Year Ended December 31, 2021
Income Statement
Expenses:
Service revenues
Assets
Rent
CORNHUSKER COMPANY
Balance Sheet
December 31, 2021
Balance Sheet
Instructor
Accounts payable
Liabilities
Problem 01-05
McGraw-Hill
Cash
Beginning balance (Jan. 1)
4,800$
7,000
21,000
December 31, 2021
Financial Information
CORNHUSKER COMPANY
Given Data P01-05:
Cash remaining
Rent expense for the year
Land that has been purchased
