Description of this paper

The following financial statement information is f...

Description

Solution


Question

The following financial statement information is from five separate companies: Company Company Company Company Company A B C D E December 31 , 201 0 Assets . . . . . . . . . . . . . . . . . . . . . . . . . $45,000 $35,000 $29,000 $80,000 $1 23,000 Liabilities . . . . . . . . . . . . . . . . . . . . . . 23,500 22,500 1 4,000 38,000 ? December 31 , 201 1 Assets . . . . . . . . . . . . . . . . . . . . . . . . . 48,000 41 ,000 ? 1 25,000 1 1 2,500 Liabilities . . . . . . . . . . . . . . . . . . . . . . ? 27,500 1 9,000 64,000 75,000 During year 201 1 Stock issuances . . . . . . . . . . . . . . . . . 5,000 1 ,500 7,750 ? 4,500 Net income (loss) . . . . . . . . . . . . . . . 7,500 ? 9,000 1 2,000 1 8,000 Cash dividends . . . . . . . . . . . . . . . . . 2,500 3,000 3,875 0 9,000 1. Answer the following questions about Company A: a. What is the amount of equity on December 31, 2010? b. What is the amount of equity on December 31, 2011? c. What is the amount of liabilities on December 31, 2011? 2. Answer the following questions about Company B: a. What is the amount of equity on December 31, 2010? b. What is the amount of equity on December 31, 2011? c. What is net income for year 2011? 3. Calculate the amount of assets for Company C on December 31, 2011. 4. Calculate the amount of stock issuances for Company D during year 2011. 5. Calculate the amount of liabilities for Company E on December 31, 2010.,Are you sure of this solution. The answers do not match the text book Check (1 b) $31 ,500 (2c) $2,500 (3) $46,875

 

Paper#9590 | Written in 18-Jul-2015

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