Question
In the following report, I had to solve for the question marks as well as answer a few questions. I understand the formula is ASSETS
In the following report, I had to solve for the question marks as well as answer a few questions. I understand the formula is "ASSETS = LIABILITY + EQUITY", but unfortunately it's apparently not that simple.
I applied the straight formula to Company A and it worked out just fine. The rest, I could never come up with the right answers because apparently I am an accounting idiot and can't figure it out. Please help me figure out how to calculate the answer (please don't just give me the answers, help me learn to calculate it) for the following questions: Company B - What is the net income for 2011? Company C - What is the equity on Dec 31, 2011? Company C - What is the amount of assets on Dec 31, 2011? Company E - What is the equity on Dec 31, 2010? Company E - What is the amount of liabilities on Dec 31, 2010? I would greatly appreciate any help or any guidance in getting help! Thank you!!!!
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