7 Part 3 of 3 Required information [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Beginning of year Assets Liabilities Company A Company B Company C Company D Company E $ 48,000 39,360 $ 37,440 26,208 $ 30,720 16,588 $ 85,440 58,953 $ 131,040 ? End of year Assets 53,000 38,160 ? 96,460 Liabilities ? 25,948 17,399 46,300 146,280 115,561 Changes during the year Stock issuances 6,000 1,400 9,750 ? 6,500 Net income (loss) 12,710 ? 6,500 16,673 9,011 Cash dividends 3,500 2,000 5,875 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets Liabilities Equity 146,280 ( 115,561 30,719 Equity, beginning of year $ 30,719 Add: Net income 9,011 Add: Stock issuances 6,500 46,230 Less: Cash dividends 11,000 Equity, end of year 30,719 Beginning of Year Assets Liabilities 131,040 104,529 Equity 26,511 < Required 4 Required 5 >
7 Part 3 of 3 Required information [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Beginning of year Assets Liabilities Company A Company B Company C Company D Company E $ 48,000 39,360 $ 37,440 26,208 $ 30,720 16,588 $ 85,440 58,953 $ 131,040 ? End of year Assets 53,000 38,160 ? 96,460 Liabilities ? 25,948 17,399 46,300 146,280 115,561 Changes during the year Stock issuances 6,000 1,400 9,750 ? 6,500 Net income (loss) 12,710 ? 6,500 16,673 9,011 Cash dividends 3,500 2,000 5,875 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets Liabilities Equity 146,280 ( 115,561 30,719 Equity, beginning of year $ 30,719 Add: Net income 9,011 Add: Stock issuances 6,500 46,230 Less: Cash dividends 11,000 Equity, end of year 30,719 Beginning of Year Assets Liabilities 131,040 104,529 Equity 26,511 < Required 4 Required 5 >
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.1MBA
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