Question
One item is omitted in each of the following summaries of balance sheet and income statement data for three different companies, A, B, and C.
One item is omitted in each of the following summaries of balance sheet and income statement data for three different companies, A, B, and C. Determine the amounts of the missing items, identifying each company by letter(You must show your calculations).
COMPANY
A
B
C
Beginning of the year:
Assets Of Company
A 300,000
B 160,000
C 120,000
Liabilities Of Company
A 160,000
B 95,000
C 70,000
End of the year:
Assets Of Company
A 500,000
B 200,000
C 180,000
Liabilities Of Company
A 300,000
B 100,000
C 60,000
During the year:
Additional investment by the owner Of Company
A ?
B 65,000
C 40,000
Withdrawals by the owner Of Company
A 80,000
B 75,000
C ?
Revenue Of Company
A 190,000
B ?
C 85,000
Expenses Of Company
A 160,000
B 110,000
C 35,000
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
