Finch Company had the following assets and liabilities on the dates indicated. Finch began business on January
Question:
Finch Company had the following assets and liabilities on the dates indicated.
Finch began business on January 1, 2022, with an investment of $100,000.
InstructionsFrom an analysis of the change in owner?s equity during the year, compute the revenues for:a. 2022, assuming Finch?s drawings were $15,000 for the year and expenses were $5,000 for the year.b. 2023, assuming Finch made an additional investment of $45,000, had no drawings in 2023, and expenses were $55,000.c. 2024, assuming Finch made an additional investment of $15,000, had drawings of $25,000 in 2024, and expenses were $15,000.
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a Ending Owners Equity 12312022 Beginning Owners Equity 112022 Owners Capital Owners Drawings Revenu...View the full answer
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Related Book For 
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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