The following selected data are for Alexei Imports Limited for its first three years of operations. Instructions
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Instructions
Determine the missing amounts.
TAKING IT FURTHER What information does the owner of a company need in order to decide whether he or she needs to invest additional cash in the business?
Transcribed Image Text:
January 1: 2013 2014 2015 (a $75,000$ Total assets Total liabilities Total owner's equity 127,000 0 60,000 December 31 (g 170,000 Total assets Total liabilities Total owner's equity 75,000 (b) 45,000 45,000 100,000 Changes during year in owner's equity: Investments by owner during the year Drawings by owner during the year Profit or loss for the year Total revenues for the year Total expenses for the year 5,000 0 (c) 10,000 35,000 120,000 95,000
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a Total owners equity Jan 1 2013 60000 Total liabilities Jan 1 2013 0 Total assets Jan 1 2013 60000 b Total assets Dec 31 2013 75000 Total owners equi...View the full answer
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Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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