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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
100%
Using the
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa78a1ca2-1d23-4bcb-8359-c02ab4d610b0%2F72291d28-9290-4a6c-bd8c-edd1c79c7ee3%2F5n1bvi_processed.png&w=3840&q=75)
Transcribed Image Text: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
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