ACCT 212 Week 1 Homework Assignment (Summer 2021)v1

Document Content and Description Below

1. Question: Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $50,000; Liab... ilities = $27,000; Dividends = $3,000; Revenues = $14,000; Expenses = $9,000. 2. Question: Below are the account balances for a company at the end of December. 3. Question: At the beginning of the year (January 1), a company has $11,000 of common stock outstanding and retained earnings of $6,300. During the year, the company reports net income of $6,600 and pays dividends of $1,300. In addition, the company issues additional common stock for $6,100. – Statement of Stockholders’ Equity 4. Question: A company has the following account balances at the end of the year. 5. Question: Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: [Show More]

Last updated: 1 year ago

Preview 1 out of 9 pages