Task: Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows.
(a) Revenue during the period.
(b) Supplies on hand at the end of the year.
(c) Cash received from issuing new bonds during the period.
(d) Total debts outstanding at the end of the period.
Use the basic accounting equation to answer these questions.
(a) The liabilities of Daley Company are $98,090 and the stockholders' equity is $264,800. What is the amount of Daley Company's total assets?
(b) The total assets of Laven Company are $186,300 and its stockholders' equity is $86,300. What is the amount of its total liabilities?
(c) The total assets of Peterman Co. are $924,600 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.'s stockholders' equity?
Select an American corporation.
Visit its website and download the Income Statement, Statement of Stockholders Equity, Balance Sheet, and Statement of Cash Flows.