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Could anyone help me with this accounts question?
Yew Co. Kat Co. Artfax Co.
Beginning:
Assets $350,000 $175,000 $280,000
Liabilities 1,80,000 75,000 2,10,000
Ending:
Assets $520,000 $245,000 ?
Liabilities 2,55,000 1,35,000 2,55,000
Owner's Equity:
Investments by owner ? $0 $30,000
Withdrawals by owner 3,45,000 1,35,000 2,20,000
Income Statement:
Revenues $660,000 $335,000 $610,000
Expenses 5,25,000 ? 4,50,000
1 Answer
- SandyLv 79 years agoFavorite Answer
.......... Yew Co. Kat Co. Artfax Co.
Beginning:
Assets $350,000 $175,000 $280,000
Liabilities $180,000 $75,000 $210,000
Ending:
Assets $520,000 $245,000 $295,000
Liabilities $255,000 $135,000 $255,000
Owner's Equity:
Investments by owner $305,000 $0 $30,000
Withdrawals by owner $345,000 $135,000 $220,000
Income Statement:
Revenues $660,000 $335,000 $610,000
Expenses $525,000 $190,000 $450,000
Assets = Liabilities + Equity
Beginning equity + Investments by owner + revenues - expenses - withdrawals = Ending equity
