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 A			Company B			Company C			Company D			Company E
December 31, 2016
Assets	$	42,000		$	32,760		$	26,880		$	74,760		$	114,660
Liabilities		34,440			22,932			14,515			51,584			?
December 31, 2017
Assets		47,000			33,840			?			85,540			129,720
Liabilities		?			23,011			15,430			41,059			102,478
During year 2017
Owner investments		6,000			1,400			9,750			?			6,500
Net income (loss)		11,090			?			7,500			14,305			8,810
Owner cash withdrawals		3,500			2,000			5,875			0			11,000

rev: 01_24_2016_QC_CS-75141

Problem 1-2A Part 1

Required:

1a. What is the amount of equity on December 31, 2016 for Company A.

1b. What is the amount of equity on December 31, 2017 for Company A.

1c. What is the amount of liabilities on December 31, 2017 for Company A.

2a. What is the amount of equity on December 31, 2016 for Company B. 2b. What is the amount of equity on December 31, 2017 for Company B. 2c. What is net income for year 2017 for Company B.

3. Compute the amount of assets for Company C on December 31, 2017. (Enter Losses amount with a minus sign, wherever required.)

4. Compute the amount of owner investments for Company D during year 2017.

5. Compute the amount of liabilities for Company E on December 31, 2016.