Reference no: EM132229587
Questions -
Q1) Baltimore Company's complete a assets and liabilities are Accounts Receivable $3,150, Equipment $9,400, Accounts Payable $5,900, Prepaid Rent $2,050, Supplies $575, Bank Loan $3,250, and Tools $635. Baltimore's total equity is: (All account balances are normal.)
Q2) Baltimore Company experienced an increase in total assets of $10,500 during the current year. During the same time period, total liabilities increased $2,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income.
Q3) Annapolis Corporation's trial balance included debits to expense accounts of $150,000, credits to revenue accounts of $243,000, and debits to the Dividends account of $50,000. Based on this information, what is the amount of the company's net income or loss. Enter a loss as a negative number.
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