1.

Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liabilities = Owners equity = $30,770.)

		Crane Company			Beta Company			Psi Company			Omega Company
January 1, 2017
Assets		$80,440			$89,330			$enter a dollar amount	(g)		$144,400
Liabilities		49,670			enter a dollar amount	(d)		80,690			enter a dollar amount	(j)
Owners equity		enter a dollar amount	(a)		38,180			47,840			88,600
December 31, 2017
Assets		enter a dollar amount	(b)		114,400			171,700			enter a dollar amount	(k)
Liabilities		58,830			72,840			enter a dollar amount	(h)		100,700
Owners equity		51,210			enter a dollar amount	(e)		80,890			152,200
Owners equity changes in year
Additional investment		enter a dollar amount	(c)		8,370			11,480			17,860
Drawings		15,360			enter a dollar amount	(f)		12,080			11,900
Total revenues		348,300			413,700			enter a dollar amount	(i)		519,900
Total expenses		335,000			387,100			355,700			enter a dollar amount	(l)

2.

Prepare the owners equity statement for Crane Company. (List items that increase owner's equity first.)

CRANE COMPANY Owners Equity Statement choose the accounting period For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
select an opening name DrawingsExpensesNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments		$enter a dollar amount
select between addition and deduction AddLess:
select an item DrawingsExpensesNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments	$enter a dollar amount
select an item DrawingsExpensesNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments	enter a dollar amount
		enter a subtotal of the two previous amounts
		enter a total amount for the first part
select between addition and deduction AddLess: select an item DrawingsExpensesNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments		enter a dollar amount
select a closing name DrawingsExpensesNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments		$enter a total amount