Homework Answers
The formula for assets and liabilities
assets= liabilites + equity
step 1 :
we need to identify the equity as on December 31st, 2018 of all the companies
| Assets | Liabilties | Equity | |
| Company A | 37000 | 30340 | 6660 |
| Company B | 28860 | 20202 | 8658 |
| Company C | 23680 | 12787 | 10893 |
| Company D | 65860 | 45443 | 20417 |
| Company E | 101010 | 80808 | 20202 |
Company A :
Assets = Liabilites + Equity
37000 = 30340 + ?
37000-30340=6660
Company B:
Assets = Liabilites + Equity
28860=20202+?
28860-20202=8658
Company C:
Assets = Liabilites + Equity
23680=12787+?
23680-12787=10893
Company D:
Assets = Liabilites + Equity
65860=45443+?
65860-45443 = 20417
Company D:
Assets = Liabilites + Equity
101010 = ? +?
in company D we need to find out both liabilties and Equity
as per the information given of December 31, 2019
Assets = Liabilities + Equity(Opening Balance of Equity + Net Income + Stock Issuance - Cash Dividend-NetLoss)
115920=91576+( ? + 8642 +6500-11000-0)
115920=117718+?
115920-117718=20202
hence Equity Balance as on December 31, 2018 is 20202
Assets = Liabilites + Equity
101010 = ? +20202
101010- 20202 = 80808
Computation of assets of Company C as on December 31, 2019
Assets = Liabilties + Equity (Opening Balance of Equity + Net Income + Stock Issuance - Cash Divided - Net Loss)
=13788+(10893+6500+9750-5875-0)
=13788+21268
= 35056
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