Certainly! Here is the transcribed content and a description:---**Title:** Prepare the owner's equity statement for Oriole Company.**Instruction:** *List items that increase owner’s equity first.*---**ORIOLE COMPANY****Owner's Equity Statement**- [Dropdown] _________________________________________ $ [Blank field]- [Dropdown] _________________________________________ $ [Blank field]- [Dropdown] _________________________________________ $ [Blank field]- [Dropdown] _________________________________________ $ [Blank field]- [Dropdown] _________________________________________ : $ [Blank field]- [Dropdown] _________________________________________ $ [Blank field]- [Dropdown] _________________________________________ $ [Blank field]---**eTextbook and Media**- **Save for Later**- **Attempts: 0 of 5 used** - **Submit Answer** [Button]---**Explanation of Components:**- **Dropdown Fields:** There are multiple dropdown fields meant to categorize different items that form part of the owner’s equity statement. These could include items such as initial capital, additional investments, net income, dividends, etc. - **Blank Fields ($):** These fields are for entering monetary values corresponding to each item selected from the dropdown menus.**Functionality:**- **Save for Later:** This allows users to save their current progress and return later to complete the statement.- **Attempts:** Indicates how many attempts have been used to submit the statement, with a maximum of 5 allowed.- **Submit Answer:** A button for submitting the completed owner's equity statement for review.This interface appears to be a part of an educational tool for learning to prepare financial statements, specifically focused on understanding and calculating owner's equity for a company. **Determine the Missing Amounts:**To solve for missing values, use the formula: \[ \text{Assets} - \text{Liabilities} = \text{Owner's equity} \]**Oriole Company****January 1, 2022**- Assets: $78,000- Liabilities: $49,000- Owner's equity: $29,000**December 31, 2022**- Assets: $111,000- Liabilities: $59,000- Owner's equity: $52,000**Owner's Equity Changes in Year**- Additional investment: $24,000- Drawings: $18,000- Total revenues: $348,000- Total expenses: $331,000---**Pharoah Company****January 1, 2022**- Assets: $89,000- Liabilities: $48,000- Owner's equity: $ (a) = 41,000 $**December 31, 2022**- Assets: $ (b) = 106,000 $- Liabilities: $75,000- Owner's equity: $ (e) = 31,000 $**Owner's Equity Changes in Year**- Additional investment: $6,000- Drawings: $ (f) = 47,000 $- Total revenues: $413,000- Total expenses: $382,000---**Sheridan Company****January 1, 2022**- Assets: $ (g) = 132,000 $- Liabilities: $84,000- Owner's equity: $48,000**December 31, 2022**- Assets: $189,000- Liabilities: $ (h) = 111,000 $- Owner's equity: $78,000**Owner's Equity Changes in Year**- Additional investment: $10,400- Drawings: $12,100- Total revenues: $ (i) = 382,700 $- Total expenses: $351,000

Statement of owners' equity is the one which is prepared by the entity to show the changes in the…

Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities Owner's equity = $29,000.) January 1, 2022 Assets Liabilities Owner's equity December 31, 2022 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses Oriole Company $78,000 49,000 IP" 29,000 111,000 59,000 52,000 (a) 24,000 (c) 18,000 (b) 348,000 331,000 Pharoah Company $89,000 48,000 (d) 41,000 106,000 75,000 31,000 6,000 47,000 413,000 382,000 (e) (f) $ Sheridan Company 132,000 84,000 48,000 189,000 111,000 (h) 78,000 10,400 382.700 12,100 351,000 (1) (g) [ [ [

Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities Owner's equity = $29,000.) January 1, 2022 Assets Liabilities Owner's equity December 31, 2022 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses Oriole Company $78,000 49,000 IP" 29,000 111,000 59,000 52,000 (a) 24,000 (c) 18,000 (b) 348,000 331,000 Pharoah Company $89,000 48,000 (d) 41,000 106,000 75,000 31,000 6,000 47,000 413,000 382,000 (e) (f) $ Sheridan Company 132,000 84,000 48,000 189,000 111,000 (h) 78,000 10,400 382.700 12,100 351,000 (1) (g) [ [ [

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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