Question: Determine the missing amounts. ( Hint: For example, to solve for (a), Assets - Liabilities = Owner's equity = $31,450.) Cullumber Company January 1, 2017
Determine the missing amounts. (Hint:For example, to solve for (a), Assets - Liabilities = Owner's equity = $31,450.)
Cullumber
Company
January 1, 2017
Assets $81,290
Liabilities 49,840
Owner's equity(a) 31,450
December 31, 2017
Assets 110,340
Liabilities 58,350
Owner's equity 51,990
Owner's equity changes in year
Additional investment: jQuery22406931602364969607_1600460653738???
Drawings 12,520
Total revenues 348,300
Total expenses 332,200
_________________________________________________________
Beta
Company
January 1, 2017
Assets$92,380
Liabilities51,010
Owner's equity 41,370
December 31, 2017
Assets107,600
Liabilities74,580
Owner's equity33,020
Owner's equity changes in year
Additional investment:8,500
Drawings?????
Total revenues409,400
Total expenses383,200
____________________________________________________
Psi
Company
January 1, 2017
Assets125,640
Liabilities75,760
Owner's equity49,880
December 31, 2017
Assets175,200
Liabilities96,090
Owner's equity79,110
Owner's equity changes in year
Additional investment:11,340
Drawings12,460
Total revenues????
Total expenses355,600
__________________________________________
Omega
Company
January 1, 2017
Assets$140,900
Liabilities53,060
Owner's equity87,840
December 31, 2017
Assets258,600
Liabilities101,900
Owner's equity156,700
Owner's equity changes in year
Additional investment:11,500
Drawings11,620
Total revenues497,900
Total expenses????
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