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Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income
Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different proprietorships. Beginning of the year: Assets Liabilities End of the year: Assets Liabilities Freeman Heyward Jones Ramirez $411,500 $469,100 $176,900 (d) 246,900 243,900 134,400 $229,600 510,300 656,700 159,200 474,600 222,200 206,400 141,500 260,300 During the year: Additional investment in the business (a) 93,800 Withdrawals from the business 28,800 Revenue Expenses 135,900 74,100 17,700 28,100 (c) (b) 203,400 214,300 122,000 217,600 76,500 112,300 244,900 Determine the missing amounts. Hint: First determine the amount of increase or decrease in owner's equity during the year. Additional investment in the business Freeman: Heyward: Revenue Jones: Withdrawals from the business Ramirez: Assets 90,500 $ 171,600 X
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