Required 1. Answer the following questions about Company A: a) What was the owners equity on December 31, 2011? b) What was the owners equity on December 31, 2012? c) What was the amount of liabilities owed on December 31, 2012? 2. Answer the following questions about Company B: a) What was the owners equity on December 31, 2011? b) What was the owners equity on December 31, 2012? c) What was the net income for 2012? 3. Calculate the amount of assets owned by Company C on December 31, 2012. 4. Calculate the amount of owner investments in Company D made during 2012. 5. Calculate the amount of liabilities owed by Company E on December 31, 2011. Source: Adapted from Larson 13e, Problem 2-4A, page 62

Company Company Company Company Compamy December 31,2011 Assets Liabilities 90,000 70,000 58,000 160,000 246,000 47,000 45,000 28,000 76,000 December 31, 2012: 96,000 82,000 Assets Liabilities ?250,000 225,000 ?55,000 38,000 128,000 150,000 Durng 2012: Net imcome Owner withdrawals.. 10,000 3,00015,500 15,000 5,000 6,000 7,750 ?9,000 ?18,000 24,000 36,000 18,000