Question

rtant Before P & FirefRed hack Pokem Watch Barcelona s D Live Soccer matches w Top 10 Websites to Vi in us. Bank hiring 201 T 201 Review 3 The following financial statement information is from five separate companies: Company Company Company Company December 31, 2008 Part 3 of 5 Assets $38,000 $29,640 $24,320 $67640 $103,740 Liabilities 31,160 20,748 13,132 46.671 December 31, 2009 74,620 113,160 ? 20073 13,460 35.817 89,396 41,000 29,520 Assets Liabilities points During year 2009 Owner investments Net income (loss) Owner cash withdrawals 6,000 1400 9750 ? 6,500 1053 10,834 7,516 0 11,000 eBook 9,110 3,500 2.000 5,875 Print Requirement 3: Answer the following questions about Company C (Omit the "" sign in your response: a. What is the amount of equity on December 31. 2009? the amount of assets on December 31. 2009? Pre 3 O Type here to search F4

Answer 1

Ans:

December 31,2008

Assets = Liabilities + Equity

$ 24,320 = $13,132 + Equity

Equity = $ 24,320 - $ 13,132

= $ 11,188

December 31, 2009

(a) Equity = Beginning equity +Owner Investment - Net income(loss) - owners cash withdrawal

= 11,188 + 9750 - 1053 - 5875

Equity = 14,010

(b) Assets = Liabilities + Equity

= 13,460 + 14,010

= 27,470