Determine the amounts of the missing items, identifying them by letter. (Suggestion: First determine… 1 answer below »

One item is omitted in each of the following summaries of balance sheet and income statement data for four different corporations, I, II, III, and IV.

 

I

II

III

IV

Beginning of the year:

 

 

 

 

Assets

$400,000

$ 95,000

$100,000

(d)

Liabilities

260,000

45,000

80,000

$150,000

 

 

 

 

 

End of the year:

 

 

 

 

Assets

900,000

125,000

120,000

310,000

Liabilities

500,000

35,000

105,000

170,000

During the year:

 

 

 

 

Additional issue of

 

 

 

 

capital stock

(a)

22,000

10,000

50,000

Dividends

40,000

8,000

(c)

75,000

Revenue

250,000

(b)

175,000

140,000

Expenses

180,000

52,000

177,000

160,000

Determine the amounts of the missing items, identifying them by letter. (Suggestion: First determine the amount of increase or decrease in stockholders’ equity during the year.)

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