Maurice Tutor
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EX 1-20 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:
| Â |
Aquarius |
Libra |
Scorpio |
Taurus |
|
Beginning of the year: |
 |  |  |  |
|
Assets |
$300,000 |
$500,000 |
$100,000 |
(d) |
|
Liabilities |
120,000 |
260,000 |
76,000 |
120,000 |
|
End of the year: |
 |  |  |  |
|
Assets |
420,000 |
700,000 |
90,000 |
248,000 |
|
Liabilities |
110,000 |
220,000 |
80,000 |
136,000 |
|
During the year: |
 |  |  |  |
|
Additional investment in the business |
(a) |
100,000 |
10,000 |
40,000 |
|
Withdrawals from the business |
25,000 |
32,000 |
(c) |
60,000 |
|
Revenue |
190,000 |
(b) |
115,000 |
112,000 |
|
Expenses |
80,000 |
128,000 |
122,500 |
128,000 Â |