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Problem 1-05A a-b Financial statement information about four different companies is as follows Determine the missing amounts. (Hint: For example, to solve for (a), Assets-Liabilities
Problem 1-05A a-b Financial statement information about four different companies is as follows Determine the missing amounts. (Hint: For example, to solve for (a), Assets-Liabilities = Owner's equity = $29,680.) Crane Company Beta Company Psi Company Omega Company January 1, 2017 Assets $79,460 $92,350 (g) $159,500 Liabilities 49,780 76,630 Owner's equity 42,010 52,610 86,250 December 31, 2017 Assets (b 108,300 184,400 Liabilities 61,280 73,720 109,400 Owner's equity 48,840 82,430 144,700 Owner's equity changes in year Additional investment Drawings Total revenues Total expenses 15,980 12,920 495,700 7,650 10,660 12,620 350,600 337,600 12,360 418,300 385,000 350,100
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