Use financial statement relationships to determine missingamounts.(LO 3)E1-12B?The summaries of data from...Use financial statement...

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Accounting

Use financial statement relationships to determine missingamounts.
(LO 3)
E1-12B?The summaries of data from the balancesheet, income statement, and retained earnings statement for twocorporations, Yeagen Corporation and Williams’ Enterprises, arepresented below for 2014.
Yeagen
Williams’
Corporation
Enterprises
Beginning of year
Total assets
$140,000
$230,000
Total liabilities
    24,000
(d)
Total stockholders’ equity
(a)
100,000
End of year
Total assets
(b)
280,000
Total liabilities
    24,000
140,000
Total stockholders’ equity
136,000
(e)
Changes during year in retained earnings
Dividends
(c)
    10,000
Total revenues
300,000
(f)
Total expenses
200,000
100,000
Instructions
Determine the missing amounts. Assumeall changes in stockholders’ equity are due to changes in retainedearnings.

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Answer For Yeagen Corporation Beginning Stockholders Equity Beginning Assets Beginning Liabilities Beginning Stockholders Equity 140000 24000 Beginning Stockholders Equity 116000 Ending Assets Ending Stockholders Equity Ending Liabilities Ending See Answer

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In: AccountingUse financial statement relationships to determine missingamounts.(LO 3)E1-12B?The summaries of data from...Use financial statement relationships to determine missingamounts.(LO 3)E1-12B?The summaries of data from the balancesheet, income statement, and retained earnings statement for twocorporations, Yeagen Corporation and Williams’ Enterprises, arepresented below for 2014.YeagenWilliams’CorporationEnterprisesBeginning of yearTotal assets$140,000$230,000Total liabilities 24,000(d)Total stockholders’ equity(a)100,000End of yearTotal assets(b)280,000Total liabilities 24,000140,000Total stockholders’ equity136,000(e)Changes during year in retained earningsDividends(c) 10,000Total revenues300,000(f)Total expenses200,000100,000InstructionsDetermine the missing amounts. Assumeall changes in stockholders’ equity are due to changes in retainedearnings.

	Yeagen	Williams’
	Corporation	Enterprises
Beginning of year
Total assets	$140,000	$230,000
Total liabilities	24,000	(d)
Total stockholders’ equity	(a)	100,000
End of year
Total assets	(b)	280,000
Total liabilities	24,000	140,000
Total stockholders’ equity	136,000	(e)
Changes during year in retained earnings
Dividends	(c)	10,000
Total revenues	300,000	(f)
Total expenses	200,000	100,000