Question
The following financial statement information is from five separate companies: Company A Company B Company C Company D Company E December 31, 2012 Assets $
The following financial statement information is from five separate companies:
| Company A | Company B | Company C | Company D | Company E | |||||||||||
| December 31, 2012 | |||||||||||||||
| Assets | $ | 55,000 | $ | 34,000 | $ | 24,000 | $ | 60,000 | $ | 119,000 | |||||
| Liabilities | 24,500 | 21,500 | 9,000 | 40,000 | ? | ||||||||||
| December 31, 2013 | |||||||||||||||
| Assets | 58,000 | 40,000 | ? | 85,000 | 113,000 | ||||||||||
| Liabilities | ? | 26,500 | 29,000 | 24,000 | 70,000 | ||||||||||
| During year 2013 | |||||||||||||||
| Owner investments | 6,000 | 1,400 | 9,750 | ? | 6,500 | ||||||||||
| Net income (loss) | 8,500 | ? | 8,000 | 14,000 | 20,000 | ||||||||||
| Owner cash withdrawals | 3,500 | 2,000 | 5,875 | 0 | 11,000 | ||||||||||
_______________________________________________________________________________________________
Company A
| #1. What is the amount of equity on December 31, 2012 for Company A. |
| #2. What is the amount of equity on December 31, 2013 for Company A #3. What is the amount of liabilities on December 31, 2013 for Company A Company B
| ||
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Financial Accounting
Authors: Jr. Belverd E. Needles, Marian Powers
9th Edition
0547070020, 978-0547070025
