January 1, 2022 Assets (b) 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 Your answer is partially correct. Owner's Capital, January 1 Add V Cullumber Company Net Income/(Loss) $78,000 48,000 30.000 110.000 60,000 50,000 11.000 (c) 18,000 351,000 (b) 326,000 Ivanhoe Company CULLUMBER COMPANY Owner's Equity Statement $91,000 49,000 42,000 113,000 71,000 42,000 6,000 Prepare the owner's equity statement for Cullumbar Company (List items that increase owner's equity first) 43.000 420,000 383,000 (d) (9) 100 Oriole Company 122.000 77,000 45,000 187,000 103,000 84,000 11.500 12,400 385.900 346.000 00 Pharoah Company $143,000 48.000 95,000 245.000 100,000 145.000 14,000 12,000 515,000 467,000 n (k) 00
January 1, 2022 Assets (b) 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 Your answer is partially correct. Owner's Capital, January 1 Add V Cullumber Company Net Income/(Loss) $78,000 48,000 30.000 110.000 60,000 50,000 11.000 (c) 18,000 351,000 (b) 326,000 Ivanhoe Company CULLUMBER COMPANY Owner's Equity Statement $91,000 49,000 42,000 113,000 71,000 42,000 6,000 Prepare the owner's equity statement for Cullumbar Company (List items that increase owner's equity first) 43.000 420,000 383,000 (d) (9) 100 Oriole Company 122.000 77,000 45,000 187,000 103,000 84,000 11.500 12,400 385.900 346.000 00 Pharoah Company $143,000 48.000 95,000 245.000 100,000 145.000 14,000 12,000 515,000 467,000 n (k) 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![January 1, 2022
(b)
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
Your answer is partially correct.
Owner's Capital, January 1
Add
Cullumber
Company
Net Income/(Los)
$78,000
49,000
30,000
110.000
60,000
50,000
$
13,000 (c)
18,000
351,000
326,000
(2)
(b)
Ivanhoe
Company
$91,000
49,000
42,000
113,000
71,000
42,000
6,000
Prepare the owner's equity statement for Cullumber Company. (List items that increase owner's equity first.)
CULLUMBER COMPANY
Owner's Equity Statement
43,000
420,000
383,000
(d)
$
000
Oriole
Company
122,000
77,000
45,000
187,000
103,000
84,000
11,500
12,400
385,900
346,000
A
0
Pharoah
Company
$143,000
48,000
95,000
245,000
100,000
145,000
14,000
12,000
515,000
467,000
0
(k)
00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadddc24f-23fa-4799-bf61-1e831cb8379d%2Ffeb0c5f3-66cb-4216-a42d-5c6c64ba1438%2Fb6ync8f_processed.png&w=3840&q=75)
Transcribed Image Text:January 1, 2022
(b)
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
Your answer is partially correct.
Owner's Capital, January 1
Add
Cullumber
Company
Net Income/(Los)
$78,000
49,000
30,000
110.000
60,000
50,000
$
13,000 (c)
18,000
351,000
326,000
(2)
(b)
Ivanhoe
Company
$91,000
49,000
42,000
113,000
71,000
42,000
6,000
Prepare the owner's equity statement for Cullumber Company. (List items that increase owner's equity first.)
CULLUMBER COMPANY
Owner's Equity Statement
43,000
420,000
383,000
(d)
$
000
Oriole
Company
122,000
77,000
45,000
187,000
103,000
84,000
11,500
12,400
385,900
346,000
A
0
Pharoah
Company
$143,000
48,000
95,000
245,000
100,000
145,000
14,000
12,000
515,000
467,000
0
(k)
00
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