Question

Please please i seriously need help

The following financial statement information is from five separate companies.

	Company A			Company B			Company C			Company D			Company E
December 31, 2018
Assets	$	40,000		$	31,200		$	25,600		$	71,200		$	109,200
Liabilities		32,800			21,840			13,824			49,127			?
December 31, 2019
Assets		45,000			32,400			?			81,900			124,200
Liabilities		?			22,032			14,773			39,312			98,118
During year 2019
Owner investments		6,000			1,400			9,750			?			6,500
Net income (loss)		10,550			?			7,400			13,515			8,742
Owner cash withdrawals		3,500			2,000			5,875			0			11,000

2a. What is the amount of equity on December 31, 2018 for Company B

2b. What is the amount of equity on December 31, 2019 for Company B

2c. .Statement of OWNERS EQUITY
2.d What is net income for year 2019 for Company B

Answer 1

2a. Calculation of amount of Equity on Dec, 31 2018 for Company B

Equity = Assets - Liabilities = 31200 - 21840 = $9360

2b. Calculation of amount of Equity on Dec, 31 2019 for Company B

Equity = Assets - Liabilities = 32400 - 22032 = $10368

2c. Statement of owner's Equity on Dec, 31 2019 for Company B

Amount of Equity as on Dec,31 2018	$       9,360.00
Add;-Investment during 2019	$       1,400.00
Add;-income during 2019(Calculated under 2d.)	$       1,608.00
	$     12,368.00
Less;- Withdrawals during 2019	$       2,000.00
Amount of Equity as on Dec,31 2019	$     10,368.00

2d. Calculation of amount of Net income for year 2019 for Company B

Amount of Net Income = Amount of Equity as on Dec 31, 2019 + Cash Withdrawals During 2019 - Amount of Equity as on Dec 31, 2018 - Owner's Investment during 2019 year

= 10368 + 2000 - 9360 - 1400 = $1608