Question
Selected data from the financial statements of a proprietorship: 2019 Income statement Total revenues --[1] Total expenses.... 105,000 Profit 55,000 2019 Statement of Owner's Equity
Selected data from the financial statements of a proprietorship: 2019 Income statement Total revenues --[1] Total expenses.... 105,000 Profit 55,000 2019 Statement of Owner's Equity Owner's capital, Jan. 1............... [2] Owner investment in the business...... 10,000 Net income Owner's drawings.. 55,000 25,000 130,000 Owner's capital, Dec. 31.. 2019 Balance Sheet Total assets Total liabilities [3] Instructions: Determine the missing amounts based on the information provided above. 350,000 Part A: Solve for Total Revenues Total revenues (number with comma, e.g. 15,000): Part B: Solve for Owner's Drawings, Beginning Owner's Capital, beginning (number with comma, e.g. 15,000): Part C: Solve for Total Assets Total Assets (number with comma, e.g. 15,000)
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