Chapter 3 WileyPlus
We Write Essays for Students
Tell us about your assignment and we will find the best writer for your paper
Get Help Now!
Brief Exercise 1-9
Do It! Review 1-3
Exercise 3-1
Exercise 3-6
Brief Exercise 3-4
Do It! Review 3-4
Problem 3-5A
Brief Exercise 1-9
At the beginning of the year, Goren Company had total assets of $856,100 and total liabilities of $519,000. (Treat each item independently.)
(a) If total assets increased $177,500 during the year and total liabilities decreased $82,900, what is the amount of stockholders’ equity at the end of the year?
Stockholders’ equity$
(b) During the year, total liabilities increased $104,500 and stockholders’ equity decreased $65,800. What is the amount of total assets at the end of the year?
Total assets$
(c) If total assets decreased $83,400 and stockholders’ equity increased $101,700 during the year, what is the amount of total liabilities at the end of the year?
Total liabilities$
Do It! Review 1-3
Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.
Accounts payable $ 8,230 Notes payable $ 13,460
Accounts receivable 5,230 Rent expense 13,230
Advertising expense 4,260 Retained earnings ?
Cash 6,330 Service revenue 31,460
Common stock 18,230 Supplies 5,130
Dividends 5,730 Supplies expense 1,440
Equipment 30,030
Don’t show me this message again for the assignment
Prepare an income statement for Marsh Corporation.
Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.)
Prepare a balance sheet for Marsh Corporation. (List assets in order of liquidity.)
Exercise 3-1
Selected transactions for Warner Advertising Company, Inc., are listed here.
Describe the effect of each transaction on assets, liabilities, and stockholders’ equity.
1. Issued common stock to investors in exchange for cash received from investors.
2. Paid monthly rent.
3. Received cash from customers when service was performed.
4. Billed customers for services performed.
5. Paid dividend to stockholders.
6. Incurred advertising expense on account.
7. Received cash from customers billed in (4).
8. Purchased additional equipment for cash.
9. Purchased equipment on account.
Don’t show me this message again for the assignment
“Is this question part of your assignment? We Can Help!”
“Looking for a Similar Assignment? Order now”
the year was first posted on March 6, 2020 at 2:18 pm.
©2019 “Pay for Dissertation“. Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@payfordissertation.com
Welcome to originalessaywriters.com, our friendly and experienced essay writers are available 24/7 to complete all your assignments. We offer high-quality academic essays written from scratch to guarantee top grades to all students. All our papers are 100% plagiarism-free and come with a plagiarism report, upon request
Tell Us “Write My Essay for Me” and Relax! You will get an original essay well before your submission deadline.
