B- One item is omitted in each of the following summaries of balance sheet and income statement data for three different companies, A, B, and C. Determine the amounts of the missing items, identifying each company by letter (You must show your calculations). COMPANY A B C Beginning of the year: Assets 300,000 160,000 120,000 Liabilities 160,000 95,000 70,000 End of the year: Assets 500,000 200,000 180,000 Liabilities 300,000 100,000 60,000 During the year: Additional investment by the owner ? 65,000 40,000 Withdrawals by the owner 80,000 75,000 ? Revenue 190,000 ? 85,000 Expenses 160,000 110,000 35,000
B- One item is omitted in each of the following summaries of
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COMPANY |
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A |
B |
C |
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Beginning of the year: |
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Assets |
300,000 |
160,000 |
120,000 |
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Liabilities |
160,000 |
95,000 |
70,000 |
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End of the year: |
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Assets |
500,000 |
200,000 |
180,000 |
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Liabilities |
300,000 |
100,000 |
60,000 |
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During the year: |
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Additional investment by the owner |
? |
65,000 |
40,000 |
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Withdrawals by the owner |
80,000 |
75,000 |
? |
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Revenue |
190,000 |
? |
85,000 |
|
Expenses |
160,000 |
110,000 |
35,000 |
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