Garba’s Goods and Zahra Enterprises

Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garba’s Goods and Zahra Enterprises.

Determine the missing amounts.

		Garba’s Goods			Zahra Enterprises
Beginning of year:
Total assets		$110,000			$129,000
Total liabilities		85,000			$	(c)
Total owner’s equity		$	(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 owner’s equity:
Additional investment		$	(b)		25,000
Drawings		29,000			$	(d)
Total revenues		215,000			100,000
Total expenses		175,000			60,000

Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garba’s Goods and Zahra Enterprises. Determine the mis