Reference no: EM132631179

Questions -

Q1) Baltimore Company's complete assets and liabilities are Accounts Receivable $800, Equipment $10,000, Accounts Payable $4,200, Prepaid Rent $2,000, Supplies $400, Bank Loan $3,750, and Tools $300. Baltimore's total liabilities are: (All account balances are normal.)

Q2) Baltimore Company's complete assets and liabilities are Accounts Receivable $1,850, Equipment $10,800, Accounts Payable $8,500, Prepaid Rent $1,950, Supplies $525, Bank Loan $3,850, and Tools $735. Baltimore's total equity is: (All account balances are normal.)

Q3) Baltimore Company experienced a total increase in stockholders' equity of $19,000 during the current year. Stockholders' equity was increased by additional issuances of $43,000 capital stock during the year. No dividends were paid. Expenses incurred during the year were $91,000. How much was Baltimore's revenue for the year?

Q4) Baltimore Company experienced an increase in total assets of $19,500 during the current year. During the same time period, total liabilities increased $4,600. Shareholders made no investments during the year and no dividends were paid. How much was Baltimore's net income.