>One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships.Beginning of the year:AssetsLiabilitiesEnd of the year:AssetsLiabilitiesDuring the year:Additional investment in the businessWithdrawals from the businessRevenueExpensesFreeman: Additional investment in the businessHeyward: RevenueJones:Ramirez:Withdrawals from the businessAssetsFreemanDetermine the missing amounts.Hint: First determine the amount of increase or decrease in owner's equity during the year.$406,500243,900$504,100219,500(a)28,500134,30073,2000000Heyward$471,500245,200660,100207,50094,30028,300(b)122,600Jones$191,100145,200172,000152,90019,100(c)219,800235,100Ramirez(d)$226,800468,800257,10075,600110,900211,700242,000

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Description: >One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships.Beginning of the year:AssetsLiabilitiesEnd of the year:AssetsLiabilitiesDuring the year:Additional in

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One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships. Heyward Beginning of the year: Assets Liabilities End of the year: Assets Liabilities During the year: Additional investment in the business Withdrawals from the business Revenue Expenses Determine the missing amounts. Freeman: Additional investment in the business Heyward: Jones: Ramirez: 4 Revenue Hint: First determine the amount of increase or decrease in owner's equity during the year. Withdrawals from the business Assets Freeman $406,500 243,900 504,100 219,500 (a) 28,500 134,300 73,200 0000 $471,500 245,200 660,100 207,500 94,300 28,300 (b) 122,600 Jones $191,100 145,200 172,000 152,900 19,100 (c) 219,800 235,100 Ramirez (d) $226,800 468,800 257,100 75,600 110,900 211,700 242,000

One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships. Heyward Beginning of the year: Assets Liabilities End of the year: Assets Liabilities During the year: Additional investment in the business Withdrawals from the business Revenue Expenses Determine the missing amounts. Freeman: Additional investment in the business Heyward: Jones: Ramirez: 4 Revenue Hint: First determine the amount of increase or decrease in owner's equity during the year. Withdrawals from the business Assets Freeman $406,500 243,900 504,100 219,500 (a) 28,500 134,300 73,200 0000 $471,500 245,200 660,100 207,500 94,300 28,300 (b) 122,600 Jones $191,100 145,200 172,000 152,900 19,100 (c) 219,800 235,100 Ramirez (d) $226,800 468,800 257,100 75,600 110,900 211,700 242,000

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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