Question

Complete the financial statements that follow by determining the amounts that correspond to the letters. (Assume no new investments by owners.)
Income statement
Revenues......... $11,100
Expenses.......... (a)
Net income......... $ (b)
Statement of Owner’ Equity
Beginning balance..... $29,000
Net income......... (c)
Less withdrawals...... 2,000
Ending balance........ $30,000
Balance Sheet
Total assets........... $ (d)
Total liabilities........ $16,000
Owner’s equity (T. Proviso, capital). (e)
Total liabilities and owner’s equity... $ (f)



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  • CreatedMarch 26, 2014
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