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5. Solving for Missing Amounts

in Chapter 4 (Problem 5 of 7)

A company had the following account balances at the end of its first year of operations. Find the missing amounts.


Cash 1,300 Accounts receivable ?
Inventory 400 Property and equipment 1200
Accounts payable 500 Salaries payable 800
Common Stock 1475 Retained earnings 525
Revenue 2500 Expenses ?
Net Income 570 Dividends ?
  1. Determine Accounts Receivable
  2. Determine Expenses
  3. Determine Dividends
Watch Solution (4:17) Hide Solution Reveal Solution
  1. Accounts Receivable - 400
  2. Expenses - 1,930
  3. Dividends - 45

The Rest Of The Practice Problems

Click Here to View All Chapter 4 Problems at Once View
1 Closing Journal Accounts Easy
2 Current Assets Easy
3 Effect on the Current Ratio Easy
4 Closing Process Moderate
5 Solving for Missing Amounts
You are here. 		Moderate
6 Account Classifications Hard
7 Year End Closing & Account Classification Hard
← Chapter 3

Chapter 4 Videos

1 The Closing Process 10:37
2 The Classified Balance Sheet 4:48
3 Current Assets 9:57
4 Non-Current Assets 10:25
5 Current Liabilities 6:24
6 Non-Current Liabilites 2:00
7 Contributed Capital 5:10
8 Ratios: Current Ratio 4:00
Chapters 5 & 6 →