Question
The following financial statement information is from five separate companies: companyA companyB companyC companyD companyE December 31, 2012 assets $55000 34000 24000 60000 119000 liabilities
The following financial statement information is from five separate companies:
companyA | companyB | companyC | companyD | companyE | |
December 31, 2012 | |||||
assets | $55000 | 34000 | 24000 | 60000 | 119000 |
liabilities | 24500 | 21500 | 9000 | 40000 | ? |
December 31, 2013 | |||||
Assets | 58000 | 40000 | ? | 85000 | 113000 |
liabilities | ? | 26500 | 29000 | 24000 | 70000 |
during year 2013 | |||||
owner investments | 6000 | 1400 | 9750 | ? | 6500 |
net income(loss) | 8500 | ? | 8000 | 14000 | 20000 |
owners cash withdrawals | 3500 | 2000 | 5875 | 0 | 11000 |
1. Answer the following questions about company A:
a.What is the amount of equity on December 31, 2012?
b What is the amount of equity on December 31, 2013?
c. What is the amount of Liabilities on December 31, 2013?
2. Answer the following questions about company B:
a What is the amount of equity on December 31,2012?
b What is the amount of equity on December 31, 2013?
c What is the net income for year 2013?
3. Calculate the amount of assets for Company C on December 31, 2013
4 Culculate the amount of owner investments for company D during year 2013
5 Culculate the amount of liabilities for Company E on December 31, 2012
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