Question
he following financial statement information is known about five unrelated companies: Company A Company B Company C Company D Company E December 31, 2022: Assets
he following financial statement information is known about five unrelated companies: Company A Company B Company C Company D Company E December 31, 2022: Assets $ 106,000 $ 121,000 $ 74,000 $ 168,000 $ 262,000 Liabilities 46,000 53,000 36,000 92,000 ? December 31, 2023: Assets 112,000 98,000 ? 266,000 241,000 Liabilities ? 63,000 46,000 136,000 158,000 During 2020: Owner investments 26,000 35,000 23,500 ? 10,600 Profit (loss) (24,000 ) ? 19,600 32,000 37,600 Owner withdrawals 6,600 7,600 10,150 -0- 19,600 Required: 1. Answer the following questions about Company A: a. What was the equity on December 31, 2022? b. What was the equity on December 31, 2023? c. What was the amount of liabilities owed on December 31, 2023? 2. Answer the following questions about Company B: a. What was the equity on December 31, 2022? b. What was the equity on December 31, 2023? c. What was the profit (loss) for 2023? 3. Calculate the amount of assets owned by Company C on December 31, 2023. 4. Calculate the amount of owner investments in Company D made during 2023. 5. Calculate the amount of liabilities owed by Company E on December 31, 2022.
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