Question
Required information [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Company A Company B
Required information
[The following information applies to the questions displayed below.] The following financial statement information is from five separate companies.
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| Company A | Company B | Company C | Company D | Company E | ||||||||||
| December 31, 2018 |
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| Assets | $ | 44,000 |
| $ | 34,320 |
| $ | 28,160 |
| $ | 78,320 |
| $ | 120,120 |
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| Liabilities |
| 36,080 |
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| 24,024 |
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| 15,206 |
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| 54,040 |
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| ? |
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| December 31, 2019 |
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| Assets |
| 49,000 |
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| 35,280 |
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| ? |
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| 89,180 |
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| 135,240 |
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| Liabilities |
| ? |
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| 23,990 |
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| 16,086 |
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| 42,806 |
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| 106,839 |
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| During year 2019 |
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| Stock issuances |
| 6,000 |
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| 1,400 |
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| 9,750 |
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| ? |
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| 6,500 |
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| Net income (loss) |
| 11,630 |
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| ? |
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| 7,900 |
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| 15,094 |
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| 8,877 |
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| Cash dividends |
| 3,500 |
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| 2,000 |
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| 5,875 |
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| 0 |
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| 11,000 |
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Required: 1a. What is the amount of equity on December 31, 2018 for Company A.
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1b. What is the amount of equity on December 31, 2019 for Company A.
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1c. What is the amount of liabilities on December 31, 2019 for Company A.
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The Auditor An Instructional Novella
Authors: James K. Loebbecke
1st Edition
0130799769, 978-0130799760
