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I am confused on the statement of owner equity chart I dont think the right side is correct as well Required information Problem 1-2A
I am confused on the " statement of owner equity" chart I dont think the right side is correct as well
Required information Problem 1-2A (Static) Computing missing information using accounting knowledge LO A1 [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Company A Company B Company C Company D Company E $ 55,000 24,500 $ 34,000 21,500 $ 24,000 9,000 $ 60,000 40,000 $ 119,000 ? Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Owner investments Net income (loss) Owner withdrawals 58,000 ? 40,000 26,500 ? 29,000 85,000 24,000 113,000 70,000 6,000 8,500 3,500 1,400 ? 2,000 9,750 8,000 5,875 ? 14,000 O O 6,500 20,000 11,000 Problem 1-2A (Static) Part 5 5. Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets = Liabilities Equity 43,000 $ 113,000 = $ 70,000 $ Statement of Owner's Equity Equity, beginning of year Add: Investments by owner Add: Net loss 0 Less: Net loss Equity, end of yearStep by Step Solution
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