Solution-Determine the amount of increase or decrease in

Determine the amount of increase or decrease in owner equity

Reference no: EM131538396

Question: 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.

Enter the missing amounts. (Hint: First determine the amount of increase or decrease in owner's equity during the year.)

Aquarius		Libra		Scorpio		Taurus
	Beginning of the year:
		Assets	$504,900		$570,500		$242,400
		Liabilities	302,900		296,700		184,200	$279,500
	End of the year:
		Assets	626,100		798,700		218,200	577,500
		Liabilities	272,600		251,000		193,900	316,700
	During the year:
		Additional investment in the business			114,100		24,200	93,200
		Withdrawals from the business	35,300		34,200			136,600
		Revenue	166,600				278,900	260,800
		Expenses	90,900		148,300		298,200	298,100

Reference no: EM131538396

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Determine the amount of increase or decrease in owner equity

Reference no: EM131538396

Reference no: EM131538396

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