The following financial statement information is from five separate companies.Company ACompany BCompany CCompany DCompany EBeginning...
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Accounting
The following financial statement information is from five separate companies.
Company ACompany BCompany CCompany DCompany EBeginning of yearAssets$ 55,000$ 34,000$ 24,000$ 60,000$ 119,000Liabilities24,50021,5009,00040,000?question markEnd of yearAssets58,00040,000?question mark85,000113,000Liabilities?question mark26,50029,00024,00070,000Changes during the yearOwner investments6,0001,4009,750?question mark6,500Net income (loss)8,500?question mark8,00014,00020,000Owner withdrawals3,5002,0005,875011,000Required:
1a. What is the amount of equity at the beginning of the year for Company A?
1b. What is the amount of equity at the end of the year for Company A?
1c. What is the amount of liabilities at the end of the year for Company A?
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