Question: Determine the missing amounts. ( Hint: For example, to solve for (a), Assets Liabilities = Owners equity = $ 32,880.) Cullumber Company Beta Company Psi

Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liabilities = Owners equity = $ 32,880.)

Cullumber Company

Beta Company

Psi Company

Omega Company

January 1, 2017
Assets $ 81,230 $ 88,100 $ enter a dollar amount (g) $ 140,900
Liabilities 48,350 enter a dollar amount (d) 82,480 enter a dollar amount (j)
Owners equity enter a dollar amount (a) 38,420 53,330 93,670
December 31, 2017
Assets enter a dollar amount (b) 113,600 177,600 enter a dollar amount (k)
Liabilities 61,490 73,060 enter a dollar amount (h) 107,300
Owners equity 49,180 enter a dollar amount (e) 82,420 143,400
Owners equity changes in year
Additional investment enter a dollar amount (c) 8,630 11,120 16,700
Drawings 14,830 enter a dollar amount (f) 12,270 11,740
Total revenues 350,200 416,000 enter a dollar amount (i) 518,300
Total expenses 332,700 386,700 344,300 enter a dollar amount (l)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!