Retto Required Information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The...
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Retto Required Information Problem 1-2A Computing missing information using accounting knowledge LO A1, P1 The following information applies to the questions displayed below) The following financial statement information is from five separate companies: Company Company Company Company Company A C D December 31, 2016 Assets Liabilities December 31, 2017 Assets Liabilities During year 2017 Stock issuances Net income (loss) Cash dividends $55,000 $34,000 $24,000 $60,000 $119,000 24,500 21,580 9,000 40,000 7 58,000 40,000 2 85,000 113,000 7 26,500 29,000 24,000 70,000 6,000 1,400 9,750 2 6,500 8,500 ? 8,000 14,000 20,000 3,500 2,000 5,875 @ 11,000 Problem 1-2A Part 1 Problem 1-2A Part 1 Required: 1a. What is the amount of equity on December 31, 2016 for Company A. Answer is complete but not entirely correct. Assets $ 55,000 Liabilities $ 8,460 Equity 46,540 $ 1b. What is the amount of equity on December 31, 2017 for Company A. Answer is not complete. Statement of Shareholder's Equity Equity, December 31, 2016 0 Equity, December 31, 2017 $ 22,500 X 1c. What is the amount of liabilities on December 31, 2017 for Company A. Answer is complete but not entirely correct. Assets Liabilities $ 26,500 Equity 13,500 X $ 40,000 X + $
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