1. Answer the folloing quesitons about Company V 1. What is the amount of equity
ID: 2608165 • Letter: 1
Question
1. Answer the folloing quesitons about Company V
1. What is the amount of equity on December 31, 2014?
2. What is the amount of equity on December 31, 2015
3. What is the amount of liabilities on December 31, 2015?
2. Answer the following questions about Company W?
1. What is the amount of equity on December 31, 2014?
2. What is the amount of equity on December 31, 2015
3. What is the amount of liabilities on December 31, 2015?
3. Calculate the amount of Owner investments for Company X during 2015.
4. Calculate the amount of assets for Company Y On december 31, 2015.
5. Calculate the amount of liabilities for Company Z on December 31, 2014.
CompanyV Company W CompanyX Company Y Company Z Dec 31, 2014 Assets 54000 80000 141500 92500 144000 Liabilities 25000 60000 68500 51500 ? Owner Equity 2014 29000 20000 73000 41000 ? Dec 31, 2015 Assets 59,000 100,000 186500 ? 170000 Liabilities 36000 22,000 65800 42,000 42,000 Owner's Equ 2015 23000 78000 120700 128000 During 2015 Owner Investments 5,000 20000 ? 48100 60000 Net Income (loss) ? 40000 18500 24,000 32,000 Owner cash withdrawal 5,500 2,000 0 20000 8,000Explanation / Answer
Working:
1. Information about Company V 1. Amount of Equity on December 31, 2014 29,000 2. Amount of Equity on December 31, 2015 23,000 3. Amount of Liabilities on December 31, 2015 36,000 2. Information about Company W 1. Amount of Equity on December 31, 2014 20,000 2. Amount of Equity on December 31, 2015 78,000 3. Amount of Liabilities on December 31, 2015 22,000 3. Owners investment for Company X during 2015 29,200 4. Assets on December 31, 2015 for Company Y 1,35,100 5 Liabilities on December 31, 2014 for Company Z 44,000Related Questions
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