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Summaries of balance sheet and income statement data

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Reference no: EM13935210

Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garba's Goods and Zahra Enterprises.

    Garba's

Goods		   Zahra

Enterprises
Beginning of year:            
Total assets   $110,000     $129,000  
Total liabilities   85,000     $ (c)
Total owner's equity   $ (a)   80,000  
End of year:            
Total assets   160,000     180,000  
Total liabilities   120,000     50,000  
Total owner's equity   40,000     130,000  
Changes during year in owner's equity:            
Additional investment   $ (b)   25,000  
Drawings   29,000     $ (d)
Total revenues   215,000     100,000  
Total expenses   175,000     60,000

Determine the missing amounts.

Reference no: EM13935210

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