Required information Problem 1-2A (Algo) Computing missing information using accounting knowledge LO A1 [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Stock issuances Net income (loss) Cash dividends Company A $ 41,000 33,620 46,000 ? 6,000 10,820 3,500 Company B $ 31,980 22,386 33,120 22,521 1,400 ? 2,000 Company C $ 26,240 14,169 ? 15,101 9,750 7,400 5,875 Company D $ 72,980 50,356 83,720 40,185 ? 13,911 0 Company E $ 111,930 ? 126,960 100,298 6,500 8,776 11,000
Required information Problem 1-2A (Algo) Computing missing information using accounting knowledge LO A1 [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Stock issuances Net income (loss) Cash dividends Company A $ 41,000 33,620 46,000 ? 6,000 10,820 3,500 Company B $ 31,980 22,386 33,120 22,521 1,400 ? 2,000 Company C $ 26,240 14,169 ? 15,101 9,750 7,400 5,875 Company D $ 72,980 50,356 83,720 40,185 ? 13,911 0 Company E $ 111,930 ? 126,960 100,298 6,500 8,776 11,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...
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Compute the net income of the year for Company B.
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Problem 1-2A (Algo) Part 2
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.
Required 2A Required 2B Required 2C
Complete this question by entering your answers in the tabs below.
Compute the net income of the year for Company B.
Equity, beginning of year
Add: Stock issuances
Add: Net income
Less: Cash dividends
Equity, end of year
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Required information
Problem 1-2A (Algo) Computing missing information using accounting knowledge LO A1
[The following information applies to the questions displayed below.]
The following financial statement information is from five separate companies.
Beginning of year
Assets
Liabilities
End of year
Assets
Liabilities
Changes during the year
Stock issuances
Net income (loss)
Cash dividends
Company A
$ 41,000
33,620
46,000
?
6,000
10,820
3,500
Saved
Company B
$ 31,980
22,386
33,120
22,521
1,400
?
2,000
Company C
$ 26,240
14,169
?
15,101
9,750
7,400
5,875
Problem 1-2A (Algo) Part 2
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.
Company D
$72,980
50,356
83,720
40,185
?
13,911
0
Company E
$ 111,930
?
126,960
100,298
6,500
8,776
11,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa64123de-a4af-4006-93da-eac7f0bdcdf5%2F77f37348-cf39-4dde-a463-2c3114a83919%2Fw786a5g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:work
Required information
Problem 1-2A (Algo) Computing missing information using accounting knowledge LO A1
[The following information applies to the questions displayed below.]
The following financial statement information is from five separate companies.
Beginning of year
Assets
Liabilities
End of year
Assets
Liabilities
Changes during the year
Stock issuances
Net income (loss)
Cash dividends
Company A
$ 41,000
33,620
46,000
?
6,000
10,820
3,500
Saved
Company B
$ 31,980
22,386
33,120
22,521
1,400
?
2,000
Company C
$ 26,240
14,169
?
15,101
9,750
7,400
5,875
Problem 1-2A (Algo) Part 2
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.
Company D
$72,980
50,356
83,720
40,185
?
13,911
0
Company E
$ 111,930
?
126,960
100,298
6,500
8,776
11,000
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