Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships: Freeman Heyward Jones Ramirez Beginning of the year: Assets Liabilities End of the year: Assets Liabilities During the year: Additional investment in the business Withdrawals from the business Heyward: Jones: Revenue Expenses Determine the missing amounts. Hint: First determine the amount of increase or decrease in owner's equity during the year. Freeman: Additional investment in the business Ramirez: Check My Work Revenue (d) $900,000 $490,000 $115,000 360,000 260,000 81,000 $120,000 1,260,000 675,000 100,000 270,000 330,000 220,000 80,000 136,000 Withdrawals from the business. Assets 55,000 75,000 32,000 39,000 570,000 (b) 115,000 115,000 240,000 128,000 122,500 128,000 (a) 150,000 10,000 Previc

Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships: Determine the missing amounts. Mint: first determine the amount of increase or decrease in owner's equity during the year