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Home > Business & Careers > Accounting   »   missing amounts in the balance sheet and income statement

 
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Old Feb 1, 2008, 05:55 PM
cstjlw
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missing amounts in the balance sheet and income statement

I am in a introductory accounting class and have a problem with looking at a balance sheet and income statement with missing amounts. For example company A, I have a missing amount in the additional investments into the company. How do I go about finding the missing amount? Company B the missing amount is the revenue, Company C total withdrawals from the business, Company D has the beginning Assets of the year missing. The entire statement has amounts consisting of Beg. Assets and Liabilities, End of year Assets and Liabilities,Additional Investments and Withdrawals from the business and last Revenues and Expenses. I am sure there is a formula to calculate these missing amounts I am just not sure what that is. Any help would greatly be appreciated.

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Old Feb 2, 2008, 09:13 AM   #2  
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Assuming these companies are not interrelated, for each of them, you need to figure out the relationship among Balance Sheet, Income Statement and Statement of Shareholders' Equity. This problem is trying to test you where their links are.

Net income goes to statement of shareholders' equity to reach the ending equity amount, which will go to the retained earnings in the balance sheet.
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