PB 4. LO 2.1 Each of the following situations relates to a different company.
Company A
Company B
Company C
Company D
1 Revenues
?
$1,480,500
$103,950
$1,054,116
2 Expenses
$455,490
1,518,300
78,120
?
3 Gains
0
?
4,725
8,505
4 Losses
32,760
0
5,670
39,312
5 Net Income or (Loss)
32,130
39,690
?
(58,275)
A. For each of these independent situations, find the missing amounts.
B. How would stakeholders view the financial performance of each company? Explain.
PB 5. LO 2.2 For each of the following independent transactions, indicate whether there was an increase,
decrease, or no impact on each financial statement element.
Transaction
Received cash for sale of asset (no gain or loss)
Cash distribution to owner
Cash sales
Investment by owners
Owe vendor for inventory purchase
Assets
Liabilities
Owners' Equity