The following financial statement information is from five separate companies: C

Question

The following financial statement information is from five separate companies: Company A Company B Company C Company D Company E December 31, 2014 Assets $ 49,000 $ 38,220 $ 31,360 $ 87,220 $ 133,770 Liabilities 40,180 26,754 16,934 60,181 ? December 31, 2015 Assets 52,000 37,440 ? 94,640 143,520 Liabilities ? 25,459 17,071 45,427 113,380 During year 2015 Owner investments 6,000 1,400 9,750 ? 6,500 Net income (loss) 12,080 ? (532) 15,174 7,886 Owner cash withdrawals 3,500 2,000 5,875 0 11,000

1. calculate the amount of assets for company C on December 31, 2015

2.

3.

Explanation / Answer

1) Assets=Liabilities +Equity

31,360=16,934+14,426

Explanation:

Equity = Assets -Liabilities

=31,360 -16,934

=14,426

_____________________________________________________

Note: Second and third question is not provided

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