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EXERCISE 1-5 CHANGES IN OWNERS EQUITY THE FOLLOWING AMOUNTS ARE acquirable FROM THE RECORDS OF COACHES AND CARRIAGES Inc. at the end of the year indicated: DEC 31 native ASSETSTOTAL LIABILITIES 20062500012,000 20077900067000 2008184000137000 1. Compute the changes in coaches and Carriages owners equity during 2007 and 2008. Assets-liabilities= owners equity 2007 79000-67000=12000184000-137000=47000 12000+47000=59000 2. look the total of Coaches and Carriages discharge income for loss for 2007 assuming that no dividends were paid during the year. 79000-67000=12000 3. compute the amount of coaches and Carriages net income for 2008 assuming that dividends Paid during the year amounted to $myriad 184000-(137000+10000)=37000 EXERCISE 1-9 mavin corporation has been in business for some years. Retained kale on January1 2008 is $235,800. The following information is purchasable for the first 2 months of 2008. JANFEB REVENUES83,00096,000 EXPENSES8 900082,000 DIVIDENDS PAID05,000 Prep be a financial statement of carry earnings for the month ended February 29 2008 REVENUES EXPENSES = change INCOME 83000-89000=-6000 96000-(82000+5000)=9000 BEG.

BAL+ can INCOME-DIVIDENDS=ENDING BALANCE JAN BAL 235,800-6000=229,800 FEB BAL229,800+9000=238,800 PROBLEM1-4 Prep are a rectify balance pall ASSETS Accounts due13000 Cash21000 Accounts rec.16000 LIABILITIES Cash dividends16000 Furniture equip.43000 Capital stock20000 Supplies9000 force out INCOME FOR 2008=-50000-88000=-33000 PROBLEM 1-5 The following list, in alphabetical order, show s the various items that well-ordered appea! r on the financial statements of Maple Park Theatres Cor. The amounts shown for balance winding-sheet items are balances as of September 30 2008, with the exception of persuade earnings, which is the balance on Sept 1 2008; and the amounts shown for income statement items are balances for the month...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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