Financial statement information about five unrelated companies is as follows: section*{Required} 1. Answer the following questions about

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Financial statement information about five unrelated companies is as follows:

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\section*{Required}
1. Answer the following questions about Company A:

a. What was the owner's equity on December 31, 1989?

b. What was the owner's equity on December 31, 1990?

c. What was the amount of liabilities owed on December 31, 1990?


2. Answer the following questions about Company B:

a. What was the owner's equity on December 31,1989 ?

b. What was the owner's equity on December 31,1990 ?

c. What was the net income for 1990 ?
3. For Company C, calculate the amount of assets on December 31, 1990.
4. For Company D, calculate the amount of owner investments during 1990.
5. For Company E, calculate the amount of liabilities owed on December 31, 1989 .

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Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

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