Exercise 1-11 Two items are omitted from each of the following summaries of balance sheet and income statement data for two…
Exercise 1-11
Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2014, Steven Craig and Georgia Enterprises.
Determine the missing amounts.
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Steven
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Georgia
Enterprises |
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| Beginning of year: | ||||||
| Total assets | $108,068 | $143,719 | ||||
| Total liabilities | 94,699 |  [removed] |
(c) | |||
| Total stockholders’ equity | [removed] |
(a) | 83,558 | |||
| End of year: | ||||||
| Total assets | 178,256 | 200,538 | ||||
| Total liabilities | 133,692 | 55,705 | ||||
| Total stockholders’ equity | 44,564 | 144,833 | ||||
| Changes during year in stockholders’ equity: | ||||||
| Additional investment | [removed] |
(b) | 27,853 | |||
| Dividends | 26,738 | [removed] |
(d) | |||
| Total revenues | 239,532 | 111,410 | ||||
| Total expenses | 194,968 | 61,276 | ||||