Question
Financial statement information about four different companies is as follows. (a) Determine the missing amounts. ( Hint: For example, to solve for (a), Assets -
Financial statement information about four different companies is as follows.
(a)
Determine the missing amounts. (Hint:For example, to solve for (a), Assets - Liabilities = Owner's equity = $31,460.)
Cullumber
Company
Beta
Company
Psi
Company
Omega
Company
January 1, 2017Assets$78,740$88,360$
enter a dollar amount
(g)$148,900Liabilities47,280enter a dollar amount
(d)76,200enter a dollar amount
(j)Owner's equityenter a dollar amount
(a)42,98054,56089,660December 31, 2017Assetsenter a dollar amount
(b)106,300182,600enter a dollar amount
(k)Liabilities58,12072,960enter a dollar amount
(h)100,900Owner's equity50,410enter a dollar amount
(e)79,820149,400Owner's equity changes in yearAdditional investmententer a dollar amount
(c)9,18010,82011,590Drawings14,040enter a dollar amount
(f)12,23010,260Total revenues349,700412,000enter a dollar amount
(i)518,400Total expenses334,800385,400353,900
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