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Exercise 7 One item is omitted in each of the following summaries of the balance sheet and income statement data for four different sole proprietorships,
Exercise 7 One item is omitted in each of the following summaries of the balance sheet and income statement data for four different sole proprietorships, A, B, C, and D. A B D Beginning of the year: Assets 20.000 6.000 9.700 (d) Liabilities 9.000 2.000 7.600 2.200 End of the year Assets 24.000 9.500 9.400 6.800 Liabilities 11.000 2.000 7.700 3.700 During the year: Additional investment in the business (a) 700 500 3.000 Withdrawals from the business 2.000 1.200 (C) 2.100 Revenues 9.000 (b) 8.200 9.900 Expenses 7.500 4.000 8.300 8.800 Determine the amounts of the missing items, identifying them by letter. Suggestion: First, determine the amount of increase or decrease in owner's equity during the year
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