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Missing Amounts from Balance Sheet and Income Statement Data (d) One item is omitted in each of the following summaries of balance sheet and income
Missing Amounts from Balance Sheet and Income Statement Data (d) One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships. Freeman Heyward Jones Ramirez Beginning of the year: Assets $284,700 $324,600 $122,400 Labilities 170,800 168,800 93,000 $155,000 End of the year: Assets 353,000 454,400 110,200 320,400 Liabilities 153,700 142,800 97,900 175,700 During the year: Additional Investment in the business (a) 64,900 12,200 51,700 Withdrawals from the business 19,900 19,500 (c) 75,800 Revenue 93,900 (b) 140,900 144,700 Expenses 51,200 84,400 150,600 165,400 Determine the missing amounts Hint: First determine the amount of increase or decrease in owner's equity during the year. Freeman: Additional Investment in the business Heyward: Revenue Jones: Withdrawals from the business Ramirez: Assets
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