6 A partially completed summary of financial data is given below. The data pertain to the fundamental accounting equation for Dave Campos over a period of two years. In your Workbook, fill in the missing figures, given that: 1. revenues for 20-2 are $42 0003; 2. expenses for 20-2 are $22 000; 3. drawings for 20-2 are $18 000; 4. the assets decreased by $5 000 from the end of 20-1 to the end of 20-2. Assets Liabilities Equity End of 20-1 $27 400 End of 20-2 $19 300

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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6 A partially completed summary of financial data is given below. The data pertain to
the fundamental accounting equation for Dave Campos over a period of two years.
In your Workbook, fill in the missing figures, given that:
1. revenues for 20-2 are $42 000;
2. expenses for 20-2 are $22 000;
3. drawings for 20-2 are $18 000;
4. the assets decreased by $5 000 from the end of 20-1 to the end of 20-2.
Assets
Liabilities
Equity
End of 20-1
$27 400
End of 20-2
$19 300
Transcribed Image Text:6 A partially completed summary of financial data is given below. The data pertain to the fundamental accounting equation for Dave Campos over a period of two years. In your Workbook, fill in the missing figures, given that: 1. revenues for 20-2 are $42 000; 2. expenses for 20-2 are $22 000; 3. drawings for 20-2 are $18 000; 4. the assets decreased by $5 000 from the end of 20-1 to the end of 20-2. Assets Liabilities Equity End of 20-1 $27 400 End of 20-2 $19 300
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