Reference no: EM131713082
Question -
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Company A
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Company B
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Company C
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December 31, 2008
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Assets
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$55,000
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$59,000
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$76,000
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Liabilities
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$26,000
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$28,000
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$55,000
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December 31, 2009
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Assets
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$58,000
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$60,000
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$74,000
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Liabilities
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$35,000
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?
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$51,000
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During the year 2009
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Owner Investments
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$12,000
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$12,000
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?
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Net Income/Loss
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?
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$22,000
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$12,000
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Owner Withdraws
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$10,000
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$10,000
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$20,000
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Required:
1. What was the equity balance for Company A at December 31, 2008?
2. What was the equity balance for Company A at December 31, 2009
3. What was the net income/loss for 2009?
4. What was the equity balance for Company B at December 31, 2008?
5. What was the equity balance for Company B at December 31, 2009
6. What were the liabilities at December 31, 2009 for Company B?
7. What was the equity balance for Company C at December 31, 2008?
8. What was the equity balance for Company C at December 31, 2009?
9. What were the Owner Investments for Company C for 2009?
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