Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help answering the statement of owners equity. it says it is incomplete. please help Required information Problem 1-2A Computing missing information using accounting

i need help answering the statement of owners equity. it says it is incomplete. please help image text in transcribed
image text in transcribed
image text in transcribed
Required information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies. Company Company Company A B Company D Company E $35,000 28,700 $27, 300 19, 110 $22,400 12,096 562,300 42,987 $ 95, 550 ? December 31, 2018 Assets Liabilities December 31, 2019 Assets Liabilities During year 2019 Owner investments Net income (103) Owner cash withdrawals 40,000 2 28,800 19,584 2 13,132 72, 800 34,944 110, 400 87,216 6,000 9, 200 3,500 1,400 2 2,000 9,750 7,000 5,875 ? 11,543 O 6,500 8,574 11,000 4. Compute the amount of owner investments for Company D during year Answer is complete and correct. December 31, 2018 Assets Liabilities $ 62,300 $ 42,987 + Equity $ 19,313 + Answer is complete and correct. December 31, 2019 Assets Liabilities $ 72,800 $ 34.944 Equity $ 37,856 + Answer is not complete. Statement of Owner's Equity Equity, December 31, 2018 $ Add: Investment by Owner Add: Net income 19,313 11,543 30,856 0 Less: Withdrawals by Owner Equity, December 31, 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Are there any questions that you want to ask?

Answered: 1 week ago