Module One Homework - st 2010 2. $41,000-27,500 = $13,500...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Company A Company B Company D Company E Company D DEC 31 ST 2010 Assets $45,000 $35,000 $29,000 $80,000 $123,000 Liabilities 23,000 22,500 14,000 38,000 61,500 DEC 31 ST 2011 Assets 48,000 41,000 46,875 125,000 112,500 Liabilities 16,500 27,000 19,000 64,000 75,000 DURING YEAR 2011 Stock Issuances 5,000 1,500 7,750 10,000 4,500 Net Income (loss) 7,500 2,500 9,000 12,000 18,000 Cash Dividends 2,500 3,000 3,875 0 9,000 Denysia Lewis Module One Homework/Assignment Problem 1-2A Company A: 1. $45,000-23,000 = $21,500 Equity on Dec 31 st 2010 2. $21,000+5,000+7,500-2,00 = $31,000 Equity on Dec 31 st 2011 3. $48,000-31,5000 = $16,500 Liabilities on Dec 31 st 2011 Company B: 1. $35,000-22,500 = $12,500 Equity on Dec 31
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: st 2010 2. $41,000-27,500 = $13,500 Equity on Dec 31 st 2011 3. $12,500+1,500-3,000 = $11,000 $13,500-$11,000 = $2,500 Net Income for Year 2011 Company C: 1. $29,000-14,000 = $15,000*previous equity* $15,000+7,750+9,000-3,875 = $27,875*Equity* $27,875+19,000 = $46,875 Assets on Dec 31 st 2011 Company D: 1. $80,000-38,000 = $42,000*previous equity* $42,000+12,000 = $54,000 $64,000-54,000 = $10,000 Stock Issuances during year 2011 Company E: 1. $75,000-4,500-18,000+9000 = $61,000 $123,000-61,500 = $61,500...
View Full Document

This note was uploaded on 04/06/2012 for the course ACCOUNTING 101 taught by Professor White during the Spring '12 term at Everest University.

Ask a homework question - tutors are online