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Problem 1-2A Computing missing information using accounting knowledge AQP10 The following financial statement information is from five separate companies. Company A Company B Company C
Problem 1-2A Computing missing information using accounting knowledge AQP10 The following financial statement information is from five separate companies. Company A Company B Company C Company D Company E December 31, 2018 Assets $24,000 $60,000 $119,000 $55,000 24,500 $34,000 21,500 Liabilities 9,000 40,000 ? December 31, 2019 Assets ? 85,000 113,000 58,000 ? 40,000 26,500 Liabilities 29,000 24,000 70,000 ? During year 2019 Stock issuances Net income (loss) Cash dividends 6,000 8,500 3,500 1,400 ? 9,750 8,000 5,875 6,500 20,000 14,000 2,000 0 11,000 Required 1. Answer the following questions about Company A. a. What is the amount of equity on December 31, 2018? b. What is the amount of equity on December 31, 2019? c. What is the amount of liabilities on December 31, 2019? Check (1b) $41,500 2. Answer the following questions about Company B. a. What is the amount of equity on December 31, 2018? b. What is the amount of equity on December 31, 2019? c. What is net income for year 2019? (20) $1,600 3. Compute the amount of assets for Company Con December 31, 2019. (3) $55,875 4. Compute the amount of stock issuances for Company D during year 2019. 5. Compute the amount of liabilities for Company E on December 31, 2018
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