! Required information Problem 1-2A (Static) Computing missing information using accounting knowledge LO A1 [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 $ 55,000 24,500 $ 34,000 21,500 $ 24,000 9,000 $ 60,000 40,000 $ 119,000 2 Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Owner investments Net income (loss) Owner withdrawals 58,000 2 40,000 26,500 ? 29,000 85,000 24,000 113,000 70,000 6,000 8,500 1,400 ? 2,000 9,750 8,000 5,875 2 14,000 0 6,500 20,000 11,000 3,500 Problem 1-2A (Static) Part 1 Required: 1a. What is the amount of equity at the beginning of the year for Company A? 16. What is the amount of equity at the end of the year for Company A? 1c. What is the amount of liabilities at the end of the year for Company A? Problem 1-2A (Static) Part 1 Required: 1a. What is the amount of equity at the beginning of the year for Company A? 1b. What is the amount of equity at the end of the year for Company A? 1c. What is the amount of liabilities at the end of the year for Company A? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C What is the amount of equity at the beginning of the year for Company A? Assets = Liabilities + Equity = + 0 Required 1A Required 1B Problem 1-2A (Static) Part 1 Required: 1a. What is the amount of equity at the beginning of the year for Company A? 1b. What is the amount of equity at the end of the year for Company A? 1c. What is the amount of liabilities at the end of the year for Company A? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1c What is the amount of equity at the end of the year for Company A? Statement of Owner's Equity Equity, beginning of year 0 Equity, end of year Problem 1-2A (Static) Part 1 Required: 1a. What is the amount of equity at the beginning of the year for Company A? 1b. What is the amount of equity at the end of the year for Company A? 1c. What is the amount of liabilities at the end of the year for Company A? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1c What is the amount of liabilities at the end of the year for Company A? Assets = Liabilities + Equity II $ 0 + Problem 1-2A (Static) Part 2 2a. What is the amount of equity at the beginning of the year for Company B? 2b. What is the amount of equity at the end of the year for Company B? 2c. Compute the net income for the year for Company B by completing the Statement of Owner's equity. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C What is the amount of equity at the beginning of the year for Company B? Assets = Liabilities Equity II + $ 0 Problem 1-2A (Static) Part 2 2a. What is the amount of equity at the beginning of the year for Company B? 2b. What is the amount of equity at the end of the year for Company B? 2c. Compute the net income for the year for Company B by completing the Statement of Owner's equity. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2C What is the amount of equity at the end of the year for Company B? Assets = Liabilities + Equity = + $ 0 Problem 1-2A (Static) Part 2 2a. What is the amount of equity at the beginning of the year for Company B? 2b. What is the amount of equity at the end of the year for Company B? 2c. Compute the net income for the year for Company B by completing the Statement of Owner's equity. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Compute the net income for the year for Company B by completing the Statement of Owner's equity. Statement of Owner's Equity Equity, beginning of year 0 Equity, end of year Problem 1-2A (Static) Part 3 3. Compute the amount of assets for Company C at the end of the year. Beginning of Year Assets = Liabilities + Equity $ 0 Statement of Owner's Equity Equity, beginning of year 0 Equity, end of year End of Year Assets = Liabilities + Equity $ 0 = + Problem 1-2A (Static) Part 4 4. Compute the amount of owner investments for Company D during the year. Beginning of Year Assets Liabilities + Equity + $ 0 End of Year Assets = Liabilities + Equity + $ 0 Statement of Owner's Equity Equity, beginning of year 0 0 Less: Withdrawals by owner Equity, end of year 5. Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets = Liabilities + Equity $ 0 Statement of Owner's Equity Equity, beginning of year Equity, end of year Beginning of Year Assets = Liabilities + Equity $ 0 +
