Beginning balances: Assets Liabilities Ending Balances Assets Liabilities During the year: +Net income / -Net loss Additional investment Drawings KJC 100,000 40,000 215,000 90,000 # 3 50,000 5,000 JBA 200,000 150,000 258,000 130,000 50,000 #4 12,000 HPL 300,000 160,000 283,000 170,000 25,000 8,000 #5 Shim # 1 190,000 284,000 170,000 -58,000 6,000 60,000 Hong 250,000 190,000 #2 80,000 30,000 3,000 40,000

Beginning balances: Assets Liabilities Ending Balances Assets Liabilities During the year: +Net income / -Net loss Additional investment Drawings KJC 100,000 40,000 215,000 90,000 # 3 50,000 5,000 JBA 200,000 150,000 258,000 130,000 50,000 #4 12,000 HPL 300,000 160,000 283,000 170,000 25,000 8,000 #5 Shim # 1 190,000 284,000 170,000 -58,000 6,000 60,000 Hong 250,000 190,000 #2 80,000 30,000 3,000 40,000

Name: Using the accounting equation, compute the missing amounts for each of
Uploaded: 2024-03-04T10:43:15.000Z
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Description: Using the accounting equation, compute the missing amounts for each of the following companies. (Answer #2) Beginningbalances:AssetsLiabilitiesEndingBalancesAssetsLiabilitiesDuring the year:+Net income /-Net lossAdditionalinvestmentDrawingsKJC100,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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