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FIB - 1 Question 7 (15 points) The information is provided in a table for Alpha Company and Bravo Company.
FIB - 1Question 7 (15 points)
The information is provided in a table for Alpha Company and Bravo Company.
Alpha Company
Bravo Company
Balance 12/31/15
Assets
$65,000
Liabilities
$17,000
Equity
40,000
55,000
Balance 12/31/16
Assets
90,000
Liabilities
26,000
15,000
Equity
80,000
75,000
During the Year:
Additional Stock Issued
10,000
Dividends paid to shareholders
3,000
5,000
Revenue
90,000
Expenses
65,000
50,000
What are the amounts for each of the following missing items?
1. Alpha Company's 12/31/15 Liabilities
2. Alpha Company's 12/31/16 Assets
3. Alpha Company's 12/31/16 Additional Stock Issued
4. Bravo Company's 12/31/15 Assets
5. Bravo Company's 12/31/16 Revenues