Computing missing information using accounting knowledge
The following financial statement information is from five separate companies: |
|
|
Company
A |
Company
B |
Company
C |
Company
D |
Company
E |
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
$ |
55,000 |
|
$ |
34,000 |
|
$ |
24,000 |
|
$ |
60,000 |
|
$ |
119,000 |
|
Liabilities |
|
24,500 |
|
|
21,500 |
|
|
9,000 |
|
|
40,000 |
|
|
? |
|
December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
58,000 |
|
|
40,000 |
|
|
? |
|
|
85,000 |
|
|
113,000 |
|
Liabilities |
|
? |
|
|
26,500 |
|
|
29,000 |
|
|
24,000 |
|
|
70,000 |
|
During year 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock issuances |
|
6,000 |
|
|
1,400 |
|
|
9,750 |
|
|
? |
|
|
6,500 |
|
Net income (loss) |
|
8,500 |
|
|
? |
|
|
8,000 |
|
|
14,000 |
|
|
20,000 |
|
Cash dividends |
|
3,500 |
|
|
2,000 |
|
|
5,875 |
|
|
0 |
|
|
11,000 |
|
1a. |
What is the amount of equity on December 31, 2014 for Company A? |
1b. |
What is the amount of equity on December 31, 2015 for Company A? |
1-c. |
What is the amount of liabilities on December 31, 2015 for Company A? |
I don't know how to do this. How am I supposed to know the equity without assets and liabilities together?