Question

[The following information applies to the questions displayed below.]
The following financial statement information is from five separate companies.
Company A Company B Company C Company D Company E
December
31, 2018
Assets $ 44,000 $ 34,320 $ 28,160 $ 78,320 $ 120,120
Liabilities 36,080 24,024 15,206 54,040 ?
December
31, 2019
Assets 49,000 35,280 ? 89,180 135,240
Liabilities ? 23,990 16,086 42,806 106,839
During
year 2019
Stock
issuances 6,000 1,400 9,750 ? 6,500
Net income
(loss) 11,630 ? 7,900 15,094 8,877
Cash
dividends 3,500 2,000 5,875 0 11,000
Compute the amount of assets for Company C on December 31, 2019. (Enter losses amount with a minus sign, wherever required.)

Answer 1

Answer:

= $40,815

Explanation:

For computing the assets first determine the equity for the year 2018 which is shown below:

Equity is

= Total assets - total liabilities

= $28,160 - $15,206

= $12,954

Now the total assets for the year 2019 is

= total liabilities + total equity

= $16,086 + $12,954 + $9750 + $7,900 - $5,875

= $16,086 + $24,729

= $40,815