09-08-2005, 12:01 AM
Cant figure out this accounting problem and its driving me insane.
compute the missing amount (?) for the company (adapted and in billions).
FedEx Corporation:
BEGINNING
Assets..........$12
Liabilities......7
ENDING
Assets..........$13
Liabilities..... 7
OWNERS EQUITY
Issuance of stock......$?
Dividends.......1
INCOME STATEMENT
Revenues........$20
Expenses........19
I'm supposed to use this formula: Assets = Liabilities + Owners Equity.
The book says the missing value is 1. How can this be?
compute the missing amount (?) for the company (adapted and in billions).
FedEx Corporation:
BEGINNING
Assets..........$12
Liabilities......7
ENDING
Assets..........$13
Liabilities..... 7
OWNERS EQUITY
Issuance of stock......$?
Dividends.......1
INCOME STATEMENT
Revenues........$20
Expenses........19
I'm supposed to use this formula: Assets = Liabilities + Owners Equity.
The book says the missing value is 1. How can this be?