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Financial statements have some missing amount which are to be determined (a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets -
Financial statements have some missing amount which are to be determined
(a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets - Liabilities Owner's equity = $30,930.) Cullumber Beta Psi Omega Company Company Company Company January 1, 2017 Assets $80.630 $89,760 2$ (g) $156,500 Liabilities 49,700 (d) 76,900 Owner's equity 50,440 (a) 42.530 90,920 December 31, 2017 Assets (b) 109.700 172.500 (k) Liabilities 61,930 71.510 (h) 109,700 Owner's equity 51,150 (e) 80,420 149.600 Owner's equity changes in year Additional investment (c) 7730 11,410 14,860 Drawings 17,130 (f 12.500 12.840 Total revenues 349.100 411,800 (1) 484,400 Total expenses 331.600 386,400 355,200 e Textbook and Media 223 PM UCUC/ULAStep by Step Solution
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