Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 105

The following financial statement information is from five separate companies.

Required
1. Answer the following questions about Company V:
a. What is the amount of equity on December 31, 2014
b. What is the amount of equity on December 31, 2015
c. What is the net income or loss for the year 2015
2. Answer the following questions about Company W:
a. What is the amount of equity on December 31, 2014
b. What is the amount of equity on December 31, 2015
c. What is the amount of liabilities on December 31, 2015
3. Calculate the amount of owner investments for Company X during 2015.
4. Calculate the amount of assets for Company Y on December 31, 2015.
5. Calculate the amount of liabilities for Company Z on December 31, 2014.