Question: For each independent situation below, calculate the missing values. If an amount box does not require an entry, leave it blank. Revenues - Expenses +

For each independent situation below, calculate the missing values. If an amount box does not require an entry, leave it blank.

Revenues

-

Expenses

+

Gains

-

Losses

=

Net Income/ (Loss)

$1,250

$1,000

$135

$65

$

$

$100,515

$0

$1,550

$(245)

$75,500

$69,500

$

$1,450

$5,850

$26,300

$

$310

$600

$(1,000)

$872,300

$856,800

$14,000

$

$29,50

2.

For each independent situation below, calculate the missing values for owner's equity.

Beginning Balance

+

Investments

-

Distributions

=

Ending Balance

$0

$25,750

$11,000

$

$17,600

$

$7,500

$66,100

$

$71,000

$162,000

$136,000

$0

$173,000

$

$157,400

$85,000

$64,000

$41,000

$

3.

Here are facts for the Hudson Roofing Company for December.

Hudson Alexander, Capital Dec. 1

$178,000

Dec. revenue

51,400

Dec. expenses

57,000

Assuming no investments or withdrawals, what is the ending balance in the owners' capital account?

Ending balance $

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