The following financial statement information is from five separate companies. Company A Company B Company C Company D Company E Assets End of year Beginning of year Liabilities $ 39,000 31,980 $ 30,420 21,294 $ 24,960 13,478 $ 69,420 $ 106,470 47,899 Assets 44,000 31,680 ? 80,080 ? 121,440 Liabilities ? 21,542 14,445 38,438 95,937 Changes during the year Stock issuances 6,000 1,400 9,750 ? 6,500 Net income (loss) 10,280 ? 6,500 13,121 8,709 Cash dividends 3,500 2,000 5,875 0 11,000 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 = + Required 1A Required 1B Required 1C What is the amount of equity at the end of the year for Company A? Equity, beginning of year 0 Equity, end of year < Required 1A Required 1C > Required 1A Required 1B Required 1C What is the amount of liabilities at the end of the year for Company A? Assets = Liabilities + Equity 0 + < Required 1B Required 1C The following financial statement information is from five separate companies. Company A Company B Company C Company D Company E Beginning of year Assets Liabilities $ 39,000 31,980 $ 30,420 $ 24,960 $ 69,420 $ 106,470 21,294 13,478 47,899 ? End of year Assets 44,000 31,680 ? 80,080 Liabilities ? 21,542 14,445 38,438 121,440 95,937 Changes during the year Stock issuances 6,000 1,400 9,750 ? Net income (loss) 10,280 ? 6,500 13,121 Cash dividends 3,500 2,000 5,875 210 6,500 8,709 11,000 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 of the year for Company B. 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 = + $ 0 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 Required 2A Required 2B Required 2C Compute the net income of the year for Company B. Equity, beginning of year Equity, end of year 0 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 Company C Company D Company E Beginning of year Assets Assets Liabilities End of year Liabilities $ 39,000 31,980 $ 30,420 21,294 $ 24,960 13,478 $ 69,420 47,899 $ 106,470 44,000 31,680 ? 80,080 ? 21,542 14,445 38,438 ? 121,440 95,937 Changes during the year Stock issuances 6,000 1,400 9,750 ? 6,500 Net income (loss) 10,280 ? 6,500 13,121 8,709 Cash dividends 3,500 2,000 5,875 0 11,000 3. Compute the amount of assets for Company C at the end of the year. 4. Compute the amount of stock issuances for Company D during the year. 5. Compute the amount of liabilities for Company E at the beginning of the year. Required 3 Required 4 Required 5 Compute the amount of assets for Company C at the end of the year. Beginning of Year Assets = Liabilities + Equity + Equity, beginning of year Equity, end of year End of Year Assets = Liabilities + Equity = + Required 3 Required 4 Required 5 Compute the amount of stock issuances for Company D during the year. Beginning of Year Assets = Liabilities + Equity + End of Year Assets = Liabilities + Equity = + Equity, beginning of year Less: Cash dividends Equity, end of year 0 Required 3 Required 4 Required 5 Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets II = Equity, beginning of year Equity, end of year Beginning of Year Assets = Liabilities + Equity + = Liabilities + Equity = + Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, December 31, prior year Retained earnings, December 31, current year Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $ 10,700 9,700 6,700 5,700 12,400 14,700 3,700 5,700 13,700 34,400 23,400 20,700 12,700 8,700 Required: Prepare the income statement for Armani Company for the current year ended December 31. Required: Prepare the income statement for Armani Company for the current year ended December 31. Revenues Total revenues Expenses Total expenses ARMANI COMPANY Income Statement For Current Year Ended December 31 Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies $ 10,700 9,700 6,700 Equipment 5,700 Accounts payable 12,400 Common stock 14,700 Retained earnings, December 31, prior year 3,700 Retained earnings, December 31, current year 5,700 Dividends 13,700 Consulting revenue 34,400 Rental revenue 23,400 Salaries expense 20,700 Rent expense 12,700 Selling and administrative expenses 8,700 Required: Prepare the statement of retained earnings for Armani Company for the current year ended December 31. ARMANI COMPANY Statement of Retained Earnings For Current Year Ended December 31 Retained earnings, December 31, prior year Retained earnings, December 31, current year Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies $ 10,700 9,700 6,700 Equipment 5,700 Accounts payable 12,400 Common stock 14,700 Retained earnings, December 31, prior year 3,700 Retained earnings, December 31, current year 5,700 Dividends 13,700 Consulting revenue 34,400 Rental revenue 23,400 Salaries expense 20,700 Rent expense 12,700 Selling and administrative expenses 8,700 Required: Prepare the current year-end balance sheet for Armani Company. Assets ARMANI COMPANY Balance Sheet December 31 Liabilities Total liabilities Total assets Total equity Total liabilities and equity Equity Following is selected financial information of Kia Company for the current year ended December 31. Cash used by investing activities Net increase in cash Cash used by financing activities Cash from operating activities Cash, December 31, prior year Required: $ (4,000) 950 (4,800) 9,750 3,800 Prepare the statement of cash flows for Kia Company for the current year ended December 31. (Cash outflows should be indicated with a minus sign.) KIA COMPANY Statement of Cash Flows For Current Year Ended December 31 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $62,000 cash and equipment valued at $39,000 in the company in exchange for its common stock. b. The company purchased a building for $48,000 cash. c. The company purchased equipment for $5,900 cash. d. The company purchased $3,200 of supplies and $1,800 of equipment on credit. e. The company paid $880 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,200 for the service. g. The company designed a financial plan for another client and immediately collected a $8,300 cash fee. h. The company paid $1,000 cash in dividends to the owner (sole shareholder). i. The company received $3,200 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $900 cash on the equipment purchased in transaction d. k. The company paid $1,500 cash for the secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Dividends + Revenues + I + + I + I a. b. Accounts Accounts Cash + Receivable + Supplies + Equipment + Building = + Payable Common Stock + + + + = + + + + + = II + Balance after a and b + + + + = II + + + + + = + + + + + + + I | I I | I | I d. + + + + Balance after d + + + + || || + + + + + + + + = + I + e. Balance after e + + + + = + + f. + + + + Balance after f + + + + || || = + = + |||| + + g. + + + + = + + Balance after g + + + + + + h. + + + + + + Balance after h + + + + II + + . + + + + = + + Balance after i + + + + = II + + |j. + + + + = II + + Balance after j + + + + II + + k. + + + + + + Balance after k + + + + + + C. Balance after c I I I I Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's net income. Net income < Required 1 Required 2 >