a. The changes in account balances of the Samson Corporationduring the year are presented below:
Assets $356,000
Liabilities 108,000
Capitalstock 240,000
Additional paid-incapital 24,000
Assuming there are no charges to retained earnings other than for adividend payment of $52,000, the net income for the year, shouldbe
| | $16,000 |
| | $36,000 |
| | $52,000 |
| | $68,000 |
b. Which of the following is not a discontinued account in theincome statement?
| | Extraordinary account |
| | Unusual or in frequent account |
| | Income from discontinued business |
| | Impact of accounting changes |
c. United Airlines’ 2016 balance sheet reported the following(in millions)
Total Assets $40,091
Total Liabilities 31,485
Contributed Capital 3,573
What was United Airlines’ total liabilities and stockholders’equity at December 31, 2016?
| | $36,518 million |
| | $40,091 million |
| | $35,058 million |
| | $8,606million |
