Question
Compute the missing amounts for each of the following businesses. Using the information given, complete each of the empty boxes. Elm Co. Kat Co. Jam
Compute the missing amounts for each of the following businesses.
Using the information given, complete each of the empty boxes.
| Elm Co. | Kat Co. | Jam Co. |
Beginning: | |||
Assets. . . . . . . . . . . . . . . . . | $330,000 | $330,000 | $550,000 |
Liabilities. . . . . . . . . . . . . . . | 270,000 | 140,000 | 450,000 |
Ending: | |||
Assets. . . . . . . . . . . . . . . . . | $640,000 | $370,000 |
|
Liabilities. . . . . . . . . . . . . . . | 290,000 | 205,000 | 550,000 |
Owner's Equity: | |||
Investments by owner. . . . . |
| $0 | $100,000 |
Withdrawals by owner. . . . | 255,000 | 190,000 | 300,000 |
Income Statement: | |||
Revenues. . . . . . . . . . . . . . | $740,000 | $395,000 | $960,000 |
Expenses. . . . . . . . . . . . . . | 580,000 |
| 695,000 |
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