Question

D Required information [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies. Company Company Company Company Company B с December 31, 2018 Assets $41,000 $31,980 $26,240 $72,980 $111,930 Liabilities 33,620 22,386 14,169 50,356 2 December 31, 2019 Assets 46,000 33,120 83, 720 126,960 Liabilities 22,521 15,101 40,185 100, 298 During year 2019 Stock issuances 6,000 1,400 9,750 6,500 Net income (loss) 10,820 5,700 13,911 8,776 Cash dividends 3,500 2,000 5,875 11,000 ? ? 0 5. Compute the amount of liabilities for Company E on December 31, 2018. December 31, 2019 Assets Liabilities Equity + Statement of Shareholder's Equity Equity, December 31, 2018 Equity, December 31, 2019 December 31, 2018 Assets Liabilities Equity

Answer 1

The answers are:

Dec 31, 2019

ASSETS $126,960 LIABILITIES + EQUITY $ 100,298 $ 26,662

Statement of Shareholder's Equity

Equity, Dec 31 2018 $ 22,386 Stock Issuances $ 6,500 Net Income $ 8,776 Cash Dividends $(11,000) Equity, Dec 31 2019 $ 26,662

Dec 31 2018

II ASSETS $111,930 LIABILITIES + EQUITY $ $ 89,544 $22,386

Workings

Dec 31 2019

ASSETS $126,960 given LIABILITIES + EQUITY $ 100,298 $ 26,662 given =126960-100298

Statement of Shareholder's Equity Equity, Dec 31 2018 $ 22,386 -26662+11000-8776-6500 Stock Issuances $ 6,500 given Net Income $ 8,776 given Cash Dividends $(11,000) given Equity, Dec 31 2019 $ 26,662 (from part 1)

Dec 31 2018

ASSETS $111,930 given LIABILITIES + EQUITY $ 89,544 $22,386 =111930-22386 given

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