# Be1-7, Be1-8, Be1-9

BE1-7 |
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| Correct. |
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Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows.
| (a) Revenue during the period. |
| (b) Supplies on hand at the end of the year. |
| (c) Cash received from issuing new bonds during the period. |
| (d) Total debts outstanding at the end of the period. |
BE1-8 |
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| Correct. |
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Use the basic accounting equation to answer these questions.
(a) | The liabilities of Cummings Company are \$90,000 and the stockholders' equity is \$230,000. What is the amount of Cummings Company's total assets? |
(b) | The total assets of Haldeman Company are \$170,000 and its stockholders' equity is \$90,000. What is the amount of its total liabilities? |
(c) | The total assets of Dain Co. are \$800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Dain Co.'s stockholders' equity? |

| -------------------------------------------------
Assets | = | -------------------------------------------------
Liabilities | + | -------------------------------------------------
Stockholders' Equity |
(a) | \$ | | \$ | | \$ |
(b) | \$ | | \$ | | \$ |
(c) | \$ | | \$ | | \$ |
BE1-9 |
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| Correct. |
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At the beginning of the year, Fuqua Company had total assets of \$800,000 and total liabilities of \$500,000.
(a) | If total assets increased \$150,000 during the year and total liabilities decreased \$80,000, what is the amount of stockholders' equity at the end of the year? |
(b) | During the year, total liabilities increased \$100,000 and stockholders' equity decreased \$70,000. What is the amount of total assets at the end of the year. |
(c) | If total assets decreased \$90,000 and stockholders' equity increased \$110,000 during the year, what is the amount of total liabilities at the end of the year? |

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