newc Connect quit 20 4 Required information The folowing inf

newc Connect quit ,#20 4 Required information The folowing information applies to the questions displayed below The following financial statement information is from five separate companies Part 4 of t5 eBook 2016 Assets $48,000 37,440 $30,720 585,440 131,040 Liabilities 39,360 26,208 16,588 58,953 December 31, 2017 53.000 38,16096,460 146,280 25.948 17,399 46,300 115,561 Liabilities Daring year 2017 invesments 6,000 1,400 ,7506,500 et incom (loss) oweer eash withdrawals 3.500 2.000 5.87511.000 12,720 76,000 16,673 9,011 4. Compute the amount of owner investments for Company D during year 2017 01Decermier 31,

Solution

Solution:

We need to find out the Owner’s Equity Beginning Balance and Ending Balance by using the Accounting Equation given in the question.

Beginning Balance of Owner’s Equity

December\'31, 2016

Total Assets

=

Total Liabilities

+

Equity

$85,440

=

$58,953

+

$26,487

(85440 – 58953)

Ending Balance of Owner’s Equity

December\'31, 2017

Total Assets

=

Total Liabilities

+

Equity

$96,460

=

$46,300

+

$50,160

(96,460 -46,300)

Statement of Owner\'s Equity

Equity, December 31, 2016 (beginning)

$26,487

Owner Investment during the Year 2017 (Balancing figure)

($50,160 – 26,487 – 16,673)

$7,000

Less: Owner Cash Withdrawal

$0

Add: Net Income

$16,673

Equity, December 31, 2017 (Ending)

$50,160

The amount of owner investments for Company D during year 2017 = $7,000

Hope the above calculations, working and explanations are clear to you and help you in understanding the concept of question.... please rate my answer...in case any doubt, post a comment and I will try to resolve the doubt ASAP…thank you

December\'31, 2016
Total Assets	=	Total Liabilities	+	Equity
$85,440	=	$58,953	+	$26,487 (85440 – 58953)