Question: Missing Amounts fromBalance SheetandIncome StatementData One item is omitted in each of the following summaries of balance sheet and income statement data for the following
Missing Amounts fromBalance SheetandIncome StatementData
One item is omitted in each of the following summaries of balance sheet and income statement data for the following four differentproprietorships. Enter the missing amounts. (Hint: First determine the amount of increase or decrease inowner's equityduring the year.)
| Aquarius | Libra | Scorpio | Taurus | |||||||
| Beginning of the year: | ||||||||||
| Assets | $325,800 | $374,700 | $156,400 | |||||||
| Liabilities | 195,500 | 194,800 | 118,900 | $177,400 | ||||||
| End of the year: | ||||||||||
| Assets | 404,000 | 524,600 | 140,800 | 366,600 | ||||||
| Liabilities | 175,900 | 164,900 | 125,100 | 201,000 | ||||||
| During the year: | ||||||||||
| Additional investment in thebusiness | 74,900 | 15,600 | 59,100 | |||||||
| Withdrawals from the business | 22,800 | 22,500 | 86,700 | |||||||
| Revenue | 107,500 | 180,000 | 165,600 | |||||||
| Expenses | 58,600 | 97,400 | 192,400 | 189,200 |
|
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