acc311 at The University of Texas

9. Solving for Missing Amounts

in Chapter 2 (Problem 9 of 12)

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 T/F: Liabilities and Equity Easy
7 T/F: T-Account Logic Easy
8 Normal Balances Moderate
9 Solving for Missing Amounts
You are here. 		Moderate
10 The Effect of Journal Entries Moderate
11 What Should Be Journaled Moderate
12 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 T-Accounts 3:15
8 Debits and Credits 6:49
9 Determining Normal Balances For Assets & Liabilities 10:04
10 Determining Normal Balance for Shareholder's Equity 11:53
11 Normal Balance Shortcut: Double Entry 11:51
12 Normal Balance Shortcut: DEAD Mnemonic 2:36
13 The Journal, Ledger, Trial Balance 14:00
Chapter 3 →