Two items are omitted from each of the following summaries of balance sheet
CaidenTwo 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 |
| Zahra | ||
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
11 years ago
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