Homework Answers
Answer
20X1 Excess of Expenses over Revenue
Investment Income (Loss) = $ 1142
Less: 20X1 Operating income = $ 253
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20X1 Excess Expenses over Revenue = $ 889
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Balance Sheet Net assets as on Dec 31 20X1 = $ 17581
Less:20X1 Excess Expenses over Revenue = $ 889
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Balance Sheet Net Assets as on Dec 31 20X0 = $ 16692
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Reproduced Below
Balance Sheet Net Assets as on Dec 31 , 20X0 = $ 16692
20X1 Excess Expenses over Revenue = $ 889
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Balance Sheet Net Assets as on Dec 31 20X1 = $ 17581
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