How do I find a company's equity? (I tried subtracting the net income to the owner's withdrawals
Fantastic news! We've Found the answer you've been seeking!
Question:
How do I find a company's equity?
(I tried subtracting the net income to the owner's withdrawals from the Statement of Owner's Equity, but the computer says I'm wrong :(( TYSM in advance)
The following financial statement Information is from five separate companies. Company A Company B Company C Company D Company E $ 33,000 27,060 $ 25,740 18,018 $ 21,120 11,404 $ 58,740 40,530 $ 90,090 ? Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Owner investments Net income (105) Owner withdrawals 38,000 ? 27,360 18,604 ? 12,475 69,160 33, 196 104,880 82,855 6,000 8,660 3,500 1,400 ? 2,000 9,750 6,300 5,875 ? 10,754 6,500 8,507 11,000 equired: a. What is the amount of equity at the beginning of the year for Company A? b. What is the amount of equity at the end of the year for Company A? c. What is the amount of liabilities at the end of the year for Company A? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 What is the amount of equity at the end of the year for Company A? S Statement of Owner's Equity Equity, beginning of year Add: Investments by owner Add: Net income 5,940 6,000 11,940 3,500 Less: Withdrawals by owner Equity, end of year Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 What is the amount of liabilities at the end of the year for Company A? Assets Liabilities $ 29,560 Equity 8,440 $ 38,000 $
Related Book For
International Macroeconomics
ISBN: 9781319218423
5th Edition
Authors: Robert C. Feenstra, Alan M. Taylor
Posted Date: