Chapter 3 WileyPlus
Brief Exercise 1-9
Do It! Review 1-3
Exercise 3-1
Exercise 3-6
Brief Exercise 3-4
Do It! Review 3-4
Problem 3-5A
Brief Exercise 1-9
At the beginning of the year, Goren Company had total assets of $856,100 and total liabilities of $519,000. (Treat each item independently.)
(a) If total assets increased $177,500 during the year and total liabilities decreased $82,900, what is the amount of stockholders’ equity at the end of the year?
Stockholders’ equity$
(b) During the year, total liabilities increased $104,500 and stockholders’ equity decreased $65,800. What is the amount of total assets at the end of the year?
Total assets$
(c) If total assets decreased $83,400 and stockholders’ equity increased $101,700 during the year, what is the amount of total liabilities at the end of the year?
Total liabilities$
Do It! Review 1-3
Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.
Accounts payable $ 8,230 Notes payable $ 13,460
Accounts receivable 5,230 Rent expense 13,230
Advertising expense 4,260 Retained earnings ?
Cash 6,330 Service revenue 31,460
Common stock 18,230 Supplies 5,130
Dividends 5,730 Supplies expense 1,440
Equipment 30,030
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Prepare an income statement for Marsh Corporation.
Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.)
Prepare a balance sheet for Marsh Corporation. (List assets in order of liquidity.)