Two items are omitted from each of the following summaries of accounting equation data for the year
Question:
Two items are omitted from each of the following summaries of accounting equation data for the year 2022 for two businesses, Greene?s Goods and Solar Enterprises.
InstructionsDetermine the missing amounts.
Transcribed Image Text:
Greene's Solar Enterprises Goods Beginning of year: $129,000 (c) 80,000 Total assets $110,000 85,000 Total liabilities Total owner's equity End of year: (a) Total assets 160,000 180,000 50,000 Total liabilities 120,000 40,000 Total owner's equity Changes during year in owner's equity: 130,000 Additional investment (b) 25,000 Drawings Total revenues 37,000 (d) 220,000 100,000 60,000 Total ex penses 175,000
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a Total assets beginning of year 110000 Less Total liabilities beginning of year 85000 Total owners ...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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