The following information is from a new business Assets Liabilities $250,000 $122,000 296,000 153,000 220,000 #5,300 End of Year 1 End of Year 2 End of Year 3 Owner's Equity $125,000 143,000 134,700 Comment on the year-to-year changes in the accounts and possible sources and uses of funds (how were the funds obtained and used) End of Year It Asset financed by End of Year 21 Asset financed by End of Year 31 Assets of s withdrawals) nof used to and combination of and combination of of laboties. Company also had combination of bud (or amat net income oft by large

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is from a new business
Liabilities
$122,000
153,000
#5.300
Owner's Equity
$125,000
End of Year 1
End of Year 2
143,000
End of Year 3
134,700
Comment on the year-to-year changes in the accounts and possible sources and uses of funds (how were the funds obtained and used).
End of Year It Asset (
Cof
and combination of
End of Year 2: Asset
End of Year 31 Assets of
withdrawals)
Assets
$250,000
296,000
220,000
used to
financed by
and combination of
of taboties, company also had combination of
tor amat net income offart by large
Transcribed Image Text:The following information is from a new business Liabilities $122,000 153,000 #5.300 Owner's Equity $125,000 End of Year 1 End of Year 2 143,000 End of Year 3 134,700 Comment on the year-to-year changes in the accounts and possible sources and uses of funds (how were the funds obtained and used). End of Year It Asset ( Cof and combination of End of Year 2: Asset End of Year 31 Assets of withdrawals) Assets $250,000 296,000 220,000 used to financed by and combination of of taboties, company also had combination of tor amat net income offart by large
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