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July 28, 2014

Homework Help: accouting

Posted by kelly on Monday, May 2, 2011 at 11:20pm.

Company
E
December 31, 2010
Assets $42,000 $32,760 $26,880 $74,760 $114,660
Liabilities 34,440 22,932 14,515 51,584 ?
December 31, 2011
Assets 45,000 32,400 ? 81,900 124,200
Liabilities ? 22,032 14,773 39,312 98,118
During year 2011
Stock issuances 6,000 1,400 9,750 ? 6,500
Net income (loss) 10,190 ? -863 12,412 7,650
Cash dividends 3,500 2,000 5,875 0 11,000

Requirement 5:
Answer the following questions about Company E (Omit the "$" sign in your response):

a. What is the amount of equity on December 31, 2010?
$
b. What is the amount of liabilities on December 31, 2010?
$

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