Question
Using the data given below, calculate the income from unknown sources for years 2 and 3 respectively. Year 1 Year 2 Year 3 Total Assets
Using the data given below, calculate the income from unknown sources for years 2 and 3 respectively.
| Year 1 | Year 2 | Year 3 | |
| Total Assets | $252,000 | $266,000 | $309,000 |
| Total Liabilities | 244,000 | 134,000 | 64,000 |
| Known Income | 30,000 | 69,000 | 74,000 |
| Total Living Expenses | 17,500 | 10,800 | 8,800 |
| a. | (i) 69,000; 74,000 | |
| b. | (i) 65,800; 47,800 | |
| c. | (i) 76,600; 56,600 | |
| d. | (i) -3,200; -26,200 |
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Survey of Accounting
Authors: Carl S. Warren
7th edition
1285974360, 1285183487, 9781285974361, 978-1285183480
