Each situation below relates to an independent companys Owners Equity. A. Calculate the missing values. B. Based

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Each situation below relates to an independent company’s Owners’ Equity.

Co.1 Co.2 Co.3 Beginning Balance $163,800 63,180 0 Net + Income $16,500 0 0 Net Loss + Investments $ 0 12,000

A. Calculate the missing values.
B. Based on your calculations, make observations about each company.

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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Question Posted: Aug 09, 2022 10:52 PM

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Each situation below relates to an independent companys Owners Equity. A. Calculate the missing values. B. Based

Question:

Co.1 Co.2 Co.3 Beginning Balance $163,800 63,180 0 Net + Income $16,500 0 0 Net Loss + Investments $ 0 12,000 ? ? 0 150,000 $ Distributions $1,750 51,180 0 Ending = Balance $254,150 ? 101,400

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Principles Of Accounting Volume 1 Financial Accounting

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