Answer Happy

Determine the missing amounts for each independent case below. Assume the amounts
shown are at the end of the company's first year of operation.

Company
Name
Total
Revenue
Total
Assets
Total
Expenses
Total
Liabilities
Net
Income
(Loss)
Stockholders'
Equity
Randolph $600,000` $450,000 $350,000 $130,000
Newman $105,000 $80,000 $10,000 $75,000
Wiseman $190,000 $70,000 ($30,000) $100,000
Martin $180,000 $215,000 $115,000 $75,000
VanTassel $55,000 $75,000 $19,000 $79,000
Answer:
Company
Name
Total
Revenue
Total
Assets
Total
Expenses
Total
Liabilities
Net Income
(Loss)
Stockholders'
Equity
Randolph $250,000 $320,000
Newman $155,000 $95,000
Wiseman $40,000 $90,000
Martin $65,000 $140,000
VanTassel $74,000$154,000
Difficulty: 2 Medium
Topic: Distinguish different financial statements
Learning Objective: 01-01 Recognize the information conveyed in each of the four basic
financial statements and the way that it is used by different decision makers (investors, creditors,
and managers).