prepare owner's equity statement
Homework Answers
| Owner's Equity Statement | ||
| For the year ended December 31, 2017 | ||
| Owner's Capital, January 1 | $30,930 | |
| Add: | ||
| Additional Investment | $19,850 | |
| Net Income for the year | $17,500 | |
| $37,350 | ||
| $68,280 | ||
| Less: Drawings | $17,130 | |
| Owner's Capital, December 31 | $51,150 | |
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prepare owner's equity statement
Determine the missing amounts. (Hint For example, to solve for (a). As...
Financial statements have some missing amount which are to be determined (a) Determine the missing amounts....
Financial statements have some missing amount which
are to be determined
(a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities Owner's equity = $30,930.) Cullumber Beta Psi Omega Company Company Company Company January 1, 2017 Assets $80.630 $89,760 2$ (g) $156,500 Liabilities 49,700 (d) 76,900 Owner's equity 50,440 (a) 42.530 90,920 December 31, 2017 Assets (b) 109.700 172.500 (k) Liabilities 61,930 71.510 (h) 109,700 Owner's equity 51,150 (e) 80,420 149.600 Owner's equity changes in...
Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities = Owner's...
Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities = Owner's equity = $29,460.) Beta Sheridan Company Psi Company Company January 1, 2017 Assets $78,650 $92,510 $ (g) Liabilities 49,190 (d) 83,780 (a) 39,510 51,060 Owner's equity December 31, 2017 Assets (b) 108,800 174,000 Liabilities 58,540 71,250 (h) 51,640 (e) 80,410 Owner's equity Owner's equity changes in year Additional investment (c) 7,390 10,990 Drawings 15,720 (f) 12,190 Total 348,900 415,500 (i) revenues Total expenses 332,300...
work Question 4 of 6 -11 Determine the missing amounts. (Hint: For example, to solve for...
work Question 4 of 6 -11 Determine the missing amounts. (Hint: For example, to solve for (a). Assets - Liabilities - Owner's equity = $34,150.) Wildhorse Company Beta Company Psi Company January 1, 2017 Assets $81,760 $92,270 $ Liabilities 47.610 (d) 80,860 (a) 38,700 47.950 Owner's equity December 31, 2017 Assets (b) 110,500 182,200 Liabilities 60.160 74,880 (h) Owner's equity 48.960 (e) 79,470 o here to search ☺ E BU 25% work Question 4 of 6 -11 Liabilities 60,160 74,880...
Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Owner’s...
Determine the missing amounts. (Hint: For example, to
solve for (a), Assets – Liabilities = Owner’s equity =
$32,960.)
Wildhorse Company Beta Company Psi Company Omega Company January 1, 2017 Assets $80,320 33,580 (8) $145,000 $89,740 $ 47,380 (d) Liabilities 47,360 84,310 53,640 Owner's equity 32,960 (a) 42,360 50,730 91.360 December 31, 2017 Assets 114,700 172,300 41.300 (k) 11,630 (b) 61,750 Liabilities 70.600 88,910 (h) 107,800 Owner's equity 50,120 44100 (e) 83,390 149,100 Owner's equity changes in year Additional investment...
Determine the missing amounts Two items are omitted from each of the following summaries of balance...
Determine the missing amounts
Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2020, Nash's Goods and Blossom Enter oport Determine the missing amounts. Nash's Blossom Goods Enterprises Beginning of year: Total assets $110.000 $129,000 Total liabilities 85,000 %24 (c) Total owner's equity %24 (a) 80,000 End of year: Total assets 160,000 180,000 Total liabilities 120.000 50,000 Total owner's equity 40.000 130.000 Changes during year in...
Problem 1-05A a-b Financial statement information about four different companies is as follows Determine the missing...
Problem 1-05A a-b Financial statement information about four different companies is as follows Determine the missing amounts. (Hint: For example, to solve for (a), Assets-Liabilities = Owner's equity = $29,680.) Crane Company Beta Company Psi Company Omega Company January 1, 2017 Assets $79,460 $92,350 (g) $159,500 Liabilities 49,780 76,630 Owner's equity 42,010 52,610 86,250 December 31, 2017 Assets (b 108,300 184,400 Liabilities 61,280 73,720 109,400 Owner's equity 48,840 82,430 144,700 Owner's equity changes in year Additional investment Drawings Total revenues...
JONES'S TRAVEL AGENCY Llabilities + Assets Owner's Equity Accounts Owner's Accounts Receivable Owner's Drawings + +...
JONES'S TRAVEL AGENCY Llabilities + Assets Owner's Equity Accounts Owner's Accounts Receivable Owner's Drawings + + Supplies + Equipment - + Revenues 5400 JONES'S TRAVEL AGENCY Income Statement For the Month Ended April 30, 2017 - Investments Cash Owner's Capital, May 31 M x owner drawings x Utilities Expense Service Revenue Total Revenues Net Income / (Loss) 6800 From an analysis of the owner's equity columns, compute the net income or net loss for April JONES'S TRAVEL AGENCY Income Statement...
1.prepare income statement 2.Prepare owner's equity statement 3. Prepare balance sheet FULL SCREEN PRINTER VERSION BACK...
1.prepare income statement
2.Prepare owner's equity statement
3. Prepare balance sheet
FULL SCREEN PRINTER VERSION BACK Problem 1-9A Crane's Home Renovations was started in 2008 by Jim Crane. Jim operates the business from an office in his home. Listed below, in alphabetical order, are the company's assets and liabilities as at December 31, 2017, and the revenues, expenses, and drawings for the year ended December 31, 2017: Accounts payable 57,690 Operating expenses $3,954 Accounts receivable 9,849 Prepaid insurance 1,734 Cash...
P1.5A (LO 4,5) Writing Financial Statement Financial statement information about four differ. ent companies is as...
P1.5A (LO 4,5) Writing Financial Statement Financial statement information about four differ. ent companies is as follows. De Alpha Company Psi Beta Company Company Omega Company $ 80,000 41,000 $150,000 $ 90,000 (d) 40,000 80,000 49,000 90,000 (b) January 1, 2020 Assets Liabilities Owner's equity December 31, 2020 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses 60,000 50,000 112,000 72,000 (e) 170,000 (h) 82,000 (k) 100,000 151,000 8,000 (D) (c) 15,000 350,000...
prepare an owners equity statement for the year. cullumber did not make any capital investments during...
prepare an owners equity statement for the year. cullumber did
not make any capital investments during the year
ESOURCES 13 Credit Debit $8,300 9,000 15,800 s by Study Cullumber Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,700...
Financial statements have some missing amount which
are to be determined
(a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities Owner's equity = $30,930.) Cullumber Beta Psi Omega Company Company Company Company January 1, 2017 Assets $80.630 $89,760 2$ (g) $156,500 Liabilities 49,700 (d) 76,900 Owner's equity 50,440 (a) 42.530 90,920 December 31, 2017 Assets (b) 109.700 172.500 (k) Liabilities 61,930 71.510 (h) 109,700 Owner's equity 51,150 (e) 80,420 149.600 Owner's equity changes in...
Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities = Owner's equity = $29,460.) Beta Sheridan Company Psi Company Company January 1, 2017 Assets $78,650 $92,510 $ (g) Liabilities 49,190 (d) 83,780 (a) 39,510 51,060 Owner's equity December 31, 2017 Assets (b) 108,800 174,000 Liabilities 58,540 71,250 (h) 51,640 (e) 80,410 Owner's equity Owner's equity changes in year Additional investment (c) 7,390 10,990 Drawings 15,720 (f) 12,190 Total 348,900 415,500 (i) revenues Total expenses 332,300...
work Question 4 of 6 -11 Determine the missing amounts. (Hint: For example, to solve for (a). Assets - Liabilities - Owner's equity = $34,150.) Wildhorse Company Beta Company Psi Company January 1, 2017 Assets $81,760 $92,270 $ Liabilities 47.610 (d) 80,860 (a) 38,700 47.950 Owner's equity December 31, 2017 Assets (b) 110,500 182,200 Liabilities 60.160 74,880 (h) Owner's equity 48.960 (e) 79,470 o here to search ☺ E BU 25% work Question 4 of 6 -11 Liabilities 60,160 74,880...
Determine the missing amounts. (Hint: For example, to
solve for (a), Assets – Liabilities = Owner’s equity =
$32,960.)
Wildhorse Company Beta Company Psi Company Omega Company January 1, 2017 Assets $80,320 33,580 (8) $145,000 $89,740 $ 47,380 (d) Liabilities 47,360 84,310 53,640 Owner's equity 32,960 (a) 42,360 50,730 91.360 December 31, 2017 Assets 114,700 172,300 41.300 (k) 11,630 (b) 61,750 Liabilities 70.600 88,910 (h) 107,800 Owner's equity 50,120 44100 (e) 83,390 149,100 Owner's equity changes in year Additional investment...
Determine the missing amounts
Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2020, Nash's Goods and Blossom Enter oport Determine the missing amounts. Nash's Blossom Goods Enterprises Beginning of year: Total assets $110.000 $129,000 Total liabilities 85,000 %24 (c) Total owner's equity %24 (a) 80,000 End of year: Total assets 160,000 180,000 Total liabilities 120.000 50,000 Total owner's equity 40.000 130.000 Changes during year in...
Problem 1-05A a-b Financial statement information about four different companies is as follows Determine the missing amounts. (Hint: For example, to solve for (a), Assets-Liabilities = Owner's equity = $29,680.) Crane Company Beta Company Psi Company Omega Company January 1, 2017 Assets $79,460 $92,350 (g) $159,500 Liabilities 49,780 76,630 Owner's equity 42,010 52,610 86,250 December 31, 2017 Assets (b 108,300 184,400 Liabilities 61,280 73,720 109,400 Owner's equity 48,840 82,430 144,700 Owner's equity changes in year Additional investment Drawings Total revenues...
JONES'S TRAVEL AGENCY Llabilities + Assets Owner's Equity Accounts Owner's Accounts Receivable Owner's Drawings + + Supplies + Equipment - + Revenues 5400 JONES'S TRAVEL AGENCY Income Statement For the Month Ended April 30, 2017 - Investments Cash Owner's Capital, May 31 M x owner drawings x Utilities Expense Service Revenue Total Revenues Net Income / (Loss) 6800 From an analysis of the owner's equity columns, compute the net income or net loss for April JONES'S TRAVEL AGENCY Income Statement...
1.prepare income statement
2.Prepare owner's equity statement
3. Prepare balance sheet
FULL SCREEN PRINTER VERSION BACK Problem 1-9A Crane's Home Renovations was started in 2008 by Jim Crane. Jim operates the business from an office in his home. Listed below, in alphabetical order, are the company's assets and liabilities as at December 31, 2017, and the revenues, expenses, and drawings for the year ended December 31, 2017: Accounts payable 57,690 Operating expenses $3,954 Accounts receivable 9,849 Prepaid insurance 1,734 Cash...
P1.5A (LO 4,5) Writing Financial Statement Financial statement information about four differ. ent companies is as follows. De Alpha Company Psi Beta Company Company Omega Company $ 80,000 41,000 $150,000 $ 90,000 (d) 40,000 80,000 49,000 90,000 (b) January 1, 2020 Assets Liabilities Owner's equity December 31, 2020 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses 60,000 50,000 112,000 72,000 (e) 170,000 (h) 82,000 (k) 100,000 151,000 8,000 (D) (c) 15,000 350,000...
prepare an owners equity statement for the year. cullumber did
not make any capital investments during the year
ESOURCES 13 Credit Debit $8,300 9,000 15,800 s by Study Cullumber Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,700...
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