The following financial statement information is from five separate companies.Company A$ 42,00034,440Beginning of yearAssetsLiabilitiesEnd of yearAssetsLiabilitiesChanges during the yearStock issuancesNet income (loss)Cash dividendsRequired 2A Required 2BRequired 2CLess: Cash dividendsEquity, end of yearComplete this question by entering your answers in the tabs below.Compute the net income of the year for Company B.Equity, beginning of yearAdd: Stock issuancesAdd: 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.$6,00011,0903,5009,8281,40011,2282,00010,829Company B Company C$ 32,76022,932$ 26,88014,51533,84023,0111,400?2,000?15,43039,7507,9005,875Company D$ 74,76051,58485,54041,059?14,3050Company E$ 114,660?129, 720102,4786,5008,81011,000

Lets understand the basics. As per balance sheet equation, total assets are always equal to total…

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

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

Problem 1Q

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