Question
For each independent situation below, calculate the missing values. If an amount box does not require an entry, leave it blank. Revenues - Expenses +
For each independent situation below, calculate the missing values. If an amount box does not require an entry, leave it blank.
Revenues | - | Expenses | + | Gains | - | Losses | = | Net Income/ (Loss) |
$1,250 | $1,000 | $135 | $65 | $ | ||||
$ | $100,515 | $0 | $1,550 | $(245) | ||||
$75,500 | $69,500 | $ | $1,450 | $5,850 | ||||
$26,300 | $ | $310 | $600 | $(1,000) | ||||
$872,300 | $856,800 | $14,000 | $ | $29,50 |
2.
For each independent situation below, calculate the missing values for owner's equity.
Beginning Balance | + | Investments | - | Distributions | = | Ending Balance |
$0 | $25,750 | $11,000 | $ | |||
$17,600 | $ | $7,500 | $66,100 | |||
$ | $71,000 | $162,000 | $136,000 | |||
$0 | $173,000 | $ | $157,400 | |||
$85,000 | $64,000 | $41,000 | $ | |||
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3.
Here are facts for the Hudson Roofing Company for December.
Hudson Alexander, Capital Dec. 1 | $178,000 |
Dec. revenue | 51,400 |
Dec. expenses | 57,000 |
Assuming no investments or withdrawals, what is the ending balance in the owners' capital account?
Ending balance $
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