Homework Answers
| Particulars | Company A | Company B | Company C | Company D | Company E |
| December 31, 2018 | |||||
| Assets | $ 35,000 | $ 27,300 | $ 22,400 | $ 62,300 | $ 95,550 |
| Liabilities | 28,700 | 19,110 | 12,096 | 42,987 | 76,440 |
| December 31, 2019 | |||||
| Assets | 40,000 | 28,800 | 34,311 | 72,800 | 110,400 |
| Liabilities | 22,000 | 19,584 | 13,132 | 34,944 | 87,216 |
| During year 2019 | |||||
| Stock Issuances | 6,000 | 1,400 | 9,750 | 7,000 | 6,500 |
| Net Income (loss) | 9,200 | 1,626 | 7,000 | 11,543 | 8,574 |
| Cash dividends | 3,500 | 2,000 | 5,875 | 0 | 11,000 |
Working Notes:
Company A:
Liabilities December 31, 2019
Step 1: Equity December 31, 2019
Equity as on December 31, 2018 = $35,000 - $28,700 = $6,300
| Particulars | $ |
| Equity as on December 31, 2018 | 6,300 |
| Add: Stock Issuance | 6,000 |
| Add: Net Income | 9,200 |
| Less: Cash Dividends | 3,500 |
| Equity as on December 31, 2019 | 18,000 |
Step 2: Liabilities as on December 31, 2019
| Liabilities = Total Assets - Total Equity |
Liabilities as on December 31, 2019 = $40,000 - $18,000 = $22,000
Company B:
Net Income (Loss) during year 2019
Step 1: Equity as on December 31, 2019
Equity = Total Assets - Total liabilities
Equity = $28,800 - 19,584 = $9,216
Step 2: Net Income (Loss) during year 2019
Equity as on December 31, 2018 = $27,300 - $19,110 = $8,190
| Particulars | $ |
| Equity as on December 31, 2019 | 9,216 |
| Less: Stock Issuance | 1,400 |
| Less: Equity as on December 31, 2018 | 8,190 |
| Add: Cash Dividends | 2,000 |
| Net Income during year 2019 | 1,626 |
Company C:
Assets as on December 31, 2019
Step 1: Equity as on December 31, 2019
Equity as on December 31, 2018 = $22,400 - $12,096 = $10,304
| Particulars | $ |
| Equity as on December 31, 2018 | 10,304 |
| Add: Stock Issuance | 9,750 |
| Add: Net Income | 7,000 |
| Less: Cash Dividends | 5,875 |
| Equity as on December 31, 2019 | 21,179 |
Step 2: Assets as on December 31, 2019
| Assets = Liabilities + Equity |
Assets = $13,132 + $21,179 = $34,311
Company D:
Stock Issuances during year 2019
Step 1: Equity as on December 31, 2019
Equity = Total Assets - Total liabilities
Equity = $72,800 - $34,944 = $37,856
Step 2: Net Income (Loss) during year 2019
Equity as on December 31, 2018 = $62,300 - $42,987 = $19,313
| Particulars | $ |
| Equity as on December 31, 2019 | 37,856 |
| Less: Net Income | 11,543 |
| Less: Equity as on December 31, 2018 | 19,313 |
| Add: Cash Dividends | 0 |
| Stock Issuances during year 2019 | 7,000 |
Company E:
Liabilities as on December 31, 2018
Step 1: Equity as on December 31, 2019
Equity = Total Assets - Total liabilities
Equity = $110,400 - $87,216 = $23,184
Step 2: Equity as on December 31, 2018
| Particulars | $ |
| Equity as on December 31, 2019 | 23,184 |
| Less: Net Income | 8,574 |
| Less: Stock Issuances | 6,500 |
| Add: Cash Dividends | 11,000 |
| Equity as on December 31, 2018 | 19,110 |
Step 3: Liabilities as on December 31, 2018
Liabilities = Assets - Equity
Liabilities = $95,550 - $19,110 = $76,440
All the best...
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Company A Company B Company С Company D Company F $35,000 28,700 $27,300 19, 110 $22,400...
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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 $47,000 38,540 $36,660 25,662 $30,080 16,243 $83,666 57,725 $128,310 December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Stock issuances Net income (loss) Cash dividends 50,000 36,000 24,480 16,415 91,000 43,689 138,000 109,020 1,400 6,000 11,540 3,500 9,750 (627) 5,875...
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