Question: Financial statement information about four different companies is as follows. Instructions(a) Determine the missing amounts.(b) Prepare the owner?s equity statement for Brent Company. (c) Write

Financial statement information about four different companies is as follows.

Lillibridge Brent Vizquel Company Omar Company Company Company January 1, 2012 $

Instructions(a) Determine the missing amounts.(b) Prepare the owner?s equity statement for Brent Company.

(c) Write a memorandum explaining the sequence for preparing financial statements and the interrelationship of the owner's equity statement to the income statement and balancesheet.

Lillibridge Brent Vizquel Company Omar Company Company Company January 1, 2012 $ 80,000 $ 90,000 (d) $150,000 () 90,000 Assets (g) 80.000 Liabilities 48.000 Owner's equity (a) 40,000 49,000 December 31, 2012 Assets (b) 60,000 112,000 180,000 (k) 100,000 Liabilities 72,000 (h) 82,000 Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses 50,000 151.000 (e) (c) 8,000 10,000 15.000 15.000 (f) 12,000 10.000 500,000 350,000 410,000 (i) 333.000 385.000 350,000 (1)

Step by Step Solution

3.40 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Brent Company Liilibridge Company Omar Company Vizquel Company a 32000 d 50000 g 129000 j 60000 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

54-B-C-A-A-R (175).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!