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10. Solving for Missing Amounts

in Chapter 2 (Problem 10 of 13)

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 2 Problems at Once View
1 Account Classification Easy
2 Current Assets Easy
3 Journal Entry - Inventory Easy
4 Journal Entry - Sales Easy
5 Land Purchased With Cash Easy
6 Retained Earnings Easy
7 T/F: Liabilities and Equity Easy
8 T/F: T-Account Logic Easy
9 Normal Balances Moderate
10 Solving for Missing Amounts
You are here. 		Moderate
11 The Effect of Journal Entries Moderate
12 What Should Be Journaled Moderate
13 Account Classifications Hard
← Chapter 1

Chapter 2 Videos

1 Current Assets 9:57
2 Non-Current Assets 10:25
3 Current Liabilities 6:24
4 Non-Current Liabilites 2:00
5 Contributed Capital 5:10
6 The Classified Balance Sheet 4:48
7 Retained Earnings vs Shareholder's Equity 6:41
8 T-Accounts 3:15
9 Debits and Credits 6:49
10 Determining Normal Balances For Assets & Liabilities 10:04
11 Determining Normal Balance for Shareholder's Equity 11:53
12 Normal Balance Shortcut: Double Entry 11:51
13 Normal Balance Shortcut: DEAD Mnemonic 2:36
14 The Journal, Ledger, Trial Balance 14:00
Chapter 3 →