FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts.
DONAVAN, INC.
Balance Sheet
Assets
$ 13,300
Cash
Inventory
16,300
38,700
Buildings
$68,300
Total assets
Liabilities and Stockholders' Equity
Liabilities
$ 5,100
Accounts payable
Stockholders' Equity
Common stock
(a)
Retained earnings
(b)
$68,300
Total liabilities and stockholders' equity
DONAVAN, INC.
Income Statement
$85,600
Revenues
Cost of goods sold
(c)
Salaries and wages expense
10,460
(d)
Net Income
$4
DONAVAN, INC.
Retained Earnings Statement
Beginning retained earnings
$18,300
Add: Net income
(e)
4,520
Less: Dividends
$33,300
Ending retained earnings
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Transcribed Image Text:Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets $ 13,300 Cash Inventory 16,300 38,700 Buildings $68,300 Total assets Liabilities and Stockholders' Equity Liabilities $ 5,100 Accounts payable Stockholders' Equity Common stock (a) Retained earnings (b) $68,300 Total liabilities and stockholders' equity DONAVAN, INC. Income Statement $85,600 Revenues Cost of goods sold (c) Salaries and wages expense 10,460 (d) Net Income $4 DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $18,300 Add: Net income (e) 4,520 Less: Dividends $33,300 Ending retained earnings
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