Question

Compute the missing amount for each of the following separate companies in columns through E (Losses and amounts to be deducted should be indicated with a minus sign.) ABC NBC 5 CBS 0 110,000 5 0 5 5 Equity, beginning of year Owner Investments during the year Dividends during the year Net Income (loss) for the year Equity, end of year CNN 0 87.000 (10,000) (4000) 210,000 55 000) (47000) 000 22.000 104 000 5 $ 85.000 110 000

Answer 1

For CBS

Equity, end of year = Equity, beginning of year + Owner investments during the year + Net income - Dividends

104,000 = 0 + 110,000 + 22,000 - Dividends

Dividends = $28,000

For ABC

Equity, end of year = Equity, beginning of year + Owner investments during the year + Net income - Dividends

85,000 = 0 + Owner investments during the year + 90,000 - 47,000

Owner investments during the year = $42,000

For CNN

Equity, end of year = Equity, beginning of year + Owner investments during the year - Net loss - Dividends

= 0 + 87,000 - 4,000 - 10,000

= $73,000

For NBC

Equity, end of year = Equity, beginning of year + Owner investments during the year + Net income - Dividends

110,000 = 0 + 210,000 + Net income - 55,000

Net loss = - $45,000

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