The following financial statement information is known about five unrelated companies: Company A Company B Company C Company D Company E December 31, 2019: $106, 000 $121,000 $ 74,000 $262,000 Assets...


The following financial statement information is known about five unrelated companies:<br>Company A<br>Company B<br>Company C<br>Company D<br>Company E<br>December 31, 2019:<br>$106, 000<br>$121,000<br>$ 74,000<br>$262,000<br>Assets<br>$168,000<br>92,000<br>Liabilities<br>46,000<br>53,000<br>36,000<br>December 31, 2020:<br>112,000<br>241,000<br>158,000<br>Assets<br>98,000<br>63,000<br>266,000<br>136, 000<br>Liabilities<br>46,000<br>During 2020:<br>Owner investments<br>Profit (loss)<br>26,000<br>(24,000)<br>6,600<br>10,600<br>37,600<br>19,600<br>35,000<br>23,500<br>19,600<br>10,150<br>32, 00е<br>Owner withdrawals<br>7,600<br>-0-<br>Required:<br>1. Answer the following questions about Company A:<br>a. What was the equity on December 31, 2019?<br>Equity<br>

Extracted text: The following financial statement information is known about five unrelated companies: Company A Company B Company C Company D Company E December 31, 2019: $106, 000 $121,000 $ 74,000 $262,000 Assets $168,000 92,000 Liabilities 46,000 53,000 36,000 December 31, 2020: 112,000 241,000 158,000 Assets 98,000 63,000 266,000 136, 000 Liabilities 46,000 During 2020: Owner investments Profit (loss) 26,000 (24,000) 6,600 10,600 37,600 19,600 35,000 23,500 19,600 10,150 32, 00е Owner withdrawals 7,600 -0- Required: 1. Answer the following questions about Company A: a. What was the equity on December 31, 2019? Equity
c. What was the amount of liabilities owed on December 31, 2020?<br>Liabilities<br>

Extracted text: c. What was the amount of liabilities owed on December 31, 2020? Liabilities

Jun 10, 2022
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