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Thank you for your help! *57,550 is incorrect Exercise 2-19 Analyzing changes in a company's equity LO P3 Compute the missing amount for each of
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*57,550 is incorrect
Exercise 2-19 Analyzing changes in a company's equity LO P3 Compute the missing amount for each of the following separate companies a through d. (Losses and amounts to be deducted should be indicated with a minus sign.) NBC $ CBS 0 113,000| $ $ $ Equity, December 31, Year 1 Owner investments for stock during the year Dividends during the year Net income (loss) for the year Equity, December 31, Year 2 ABC 0 57,550 (54,000) 57,550 111,550 CNN 0 100,825 (10,000) (4,000) 223,970 (54,000) 109,000 115,000 $ $ $ 123,970 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $135,500 183,000 Liabilities $58,089 74,115 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,050 cash per month. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock d. Dividends were $1,050 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.) Answer is not complete. a. 77,411 $ $ $ $ Beginning of the year- Equity Owner investments Dividends Net income (loss) End of the year-Equity b. 77,411 0 (12,600) 31,474 108,885 c. 77,411 45,000 0 d. 77,411 35,000 (12,600) 22,400 X 108,885 0 31,474 108,885 $ $ $ 108,885 $Step by Step Solution
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