Accounting Homework
Title
In each of the two sets of organization financial statement information, two items have been omitted. Replace the question marks with the missing amounts. Use the area below the table to show any calculations used to arrive at the final answer for each missing amount.
Smith Industries ($)
Jones Chips, Inc. ($)
Beginning of year:
Total assets
110,000
129,000
Total liabilities
85,000
?
Total equities
?
80,000
End of year:
Total assets
160,000
180,000
Total liabilities
120,000
50,000
Total equities
40,000
130,000
Changes during the year in equities:
Additional owner investment
?
25,000
Owner's withdrawals
29,000
?
Total revenues
215,000
100,000
Total expenses
175,000
60,000
Capella Proprietary and Confidential
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Last updated: 8/14/2019 2:40 AM0
