Missing Amounts from Balance Sheet and Income Statement Data

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	$429,400		$498,100		$184,600
		Liabilities	257,600		259,000		140,300		$243,500
	End of the year:
		Assets	532,500		697,300		166,100		503,100
		Liabilities	231,900		219,200		147,700		275,900
	During the year:
		Additional investment in the business		99,600		18,500		81,200
		Withdrawals from the business	30,100		29,900			119,000
		Revenue	141,700			212,200		227,200
		Expenses	77,300		129,500		227,100		259,700

Solution

Aquarius Libra Scorpio Taurus Beginning of the year: Assets $429,400 $498,100 $184,600 535,600 Beginning of the year: Liabilities 257,600 259,000 140,300 $243,500 End of the year: Assets 532,500 697,300 166,100 503,100 End of the year: Liabilities 231,900 219,200 147,700 275,900 During the year: Additional investment in the business 141,800 99,600 18,500 81,200 Withdrawals from the business 30,100 29,900 40,800 119,000 Revenue 141,700 259,000 212,200 227,200 Expenses 77,300 129,500 227,100 259,700 Profit 64,400 129,500 -14,900 -32,500 withdrawls Increase/(Decrease in assets) 103,100 199,200 -18,500 -32,500 Increase/(Decrease in liabilities) -25,700 -39,800 7,400 32,400