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Accounting
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

FINANCIAL ACCOUNTING
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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Using the accounting equation, compute the missing amounts for each of the following companies. (Answer #2)

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
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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