Question: Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income

Missing Amounts from Balance Sheet and Income Statement Data One item is

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. Beginning of the year: Assets Liabilities End of the year: Assets Liabilities Freeman Heyward Jones Ramirez $252,600 $285,400 $106,100 (d) 151,600 148,400 80,600 $138,700 313,200 399,600 136,400 125,600 95,500 286,600 84,900 157,200 During the year: Additional investment in the business (a) Withdrawals from the business 17,700 Revenue 83,400 Expenses 45,500 57,100 10,600 46,200 17,100 (c) 67,800 (b) 122,000 129,400 74,200 130,500 147,900 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 Heyward: Revenue Jones: Withdrawals from the business Ramirez: Assets x x x

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