The following financial statement information is from five separate companies. Company A Company B Company C $ 42,000 34,440 $ 32,760 22,932 $ 26,880 14,515 Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Stock issuances Net income (loss) Cash dividends 47,000 ? 6,000 11,090 3,500 33,840 23,011 1,400 ? 2,000 ? 15,430 9,750 7,900 5,875 What is the amount of equity at the beginning of the year for Company B? Company D $ 74,760 51,584 85,540 41,059 ? 14,305 Company E $ 114,660 ? 129,720 102,478 6,500 8,810 11,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following financial statement information is from five separate companies.
Company A
$ 42,000
34,440
Beginning of year
Assets
Liabilities
End of year
Assets
Liabilities
Changes during the year
Stock issuances
Net income (loss)
Cash dividends
Required 2A Required 2B
Required 2C
Less: Cash dividends
Equity, end of year
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
$
47,000
?
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.
$
6,000
11,090
3,500
9,828
1,400
11,228
2,000
10,829
Company B Company C
$ 32,760
22,932
$ 26,880
14,515
33,840
23,011
1,400
?
2,000
?
15,430
3
9,750
7,900
5,875
Company D
$ 74,760
51,584
85,540
41,059
?
14,305
0
Company E
$ 114,660
?
129, 720
102,478
6,500
8,810
11,000
Transcribed Image Text:The following financial statement information is from five separate companies. Company A $ 42,000 34,440 Beginning of year Assets Liabilities End of year Assets Liabilities Changes during the year Stock issuances Net income (loss) Cash dividends Required 2A Required 2B Required 2C Less: Cash dividends Equity, end of year 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 $ 47,000 ? 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. $ 6,000 11,090 3,500 9,828 1,400 11,228 2,000 10,829 Company B Company C $ 32,760 22,932 $ 26,880 14,515 33,840 23,011 1,400 ? 2,000 ? 15,430 3 9,750 7,900 5,875 Company D $ 74,760 51,584 85,540 41,059 ? 14,305 0 Company E $ 114,660 ? 129, 720 102,478 6,500 8,810 11,000
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