Missing Amounts from Balance Sheet and Income Statement Data
One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships.
Enter the missing amounts. (Hint: First determine the amount of increase or decrease in owner's equity during the year.)
| |
Aquarius |
Libra |
Scorpio |
Taurus |
| Beginning of the year: |
|
|
|
|
| Assets |
$325,800 |
$374,700 |
$156,400 |
|
| Liabilities |
195,500 |
194,800 |
118,900 |
$177,400 |
| End of the year: |
|
|
|
|
| Assets |
404,000 |
524,600 |
140,800 |
366,600 |
| Liabilities |
175,900 |
164,900 |
125,100 |
201,000 |
| During the year: |
|
|
|
|
| Additional investment in the business |
|
74,900 |
15,600 |
59,100 |
| Withdrawals from the business |
22,800 |
22,500 |
|
86,700 |
| Revenue |
107,500 |
|
180,000 |
165,600 |
| Expenses |
58,600 |
97,400 |
192,400 |
189,200 |