question archive Determine the missing amounts
Determine the missing amounts
Subject:AccountingPrice:2.84 Bought3
Determine the missing amounts. (Hint For example, to solve for (al. Assets-Uabilities Owner's equity = $32.790) Oriole Company Beta Company Psi Company Omega Company January 1. 2017 Assets $80,460 $92,800 $ $141.400 47,670 d 78,030 al 40.600 52.690 87.660 Liabilities Owner's equity December 31, 2017 Assets 106.800 187,800 61.190 70.910 n 103.300 1 51.010 lel 78.580 152.700 Liabilities Owner's equity Owner's equity changes in 7.930 10.120 11.250 15.670 12.260 11.600 Additional Investment Drawings Total revenues Total expenses 349.000 405.200 512.000 334 100 384.700 346.500
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| Oriole Company | Beta Company | Psl Company | Omega Company | |
| Jan 1,2017 | ||||
| Assets | 80460 | 92800 | 130720 | 141400 |
| Liabilities | 47670 | 52200 | 78030 | 53740 |
| Owner's Equity | 32790 | 40600 | 52690 | 87660 |
| Dec 31,2017 | ||||
| Assets | 112200 | 106800 | 187800 | 256000 |
| Liabilities | 61190 | 70910 | 109220 | 103300 |
| Owner's Equity | 51010 | 35890 | 78580 | 152700 |
| Owner's Equity Change in Year | ||||
| Additional Investment | 18990 | 7930 | 10120 | 11250 |
| Drawings | 15670 | 33140 | 12260 | 11600 |
| Total Revenue | 349000 | 405200 | 374530 | 512000 |
| Total Expense | 334100 | 384700 | 346500 | 446610 |
Workings
Oriole Company
Asset=Liabilities+Owner's Equity
80460=47670+Owner's Equity(a)
Owner's Equity(a)=80460-47670=32790
Asset(b)=Liabilities+Owner's Equity
Asset(b)=61190+51010=112200
Owner's Equity,Dec 31=Owner's Equity, Jan 1+Additional Investment-Drawings+Total Revenue-Total Expense
51010=32790+Additional Investment(c)-15670+349000-334100
51010=Additional Investment(c)+32020
Additional Investment(c)=51010-32020=18990
Beta Company
Asset=Liabilities+Owner's Equity
92800=Liabilities(d)+40600
Liabilities(d)=92800-40600=52200
106800=70910+Owner's Equity(e)
Owner's Equity(e)=106800-70910=35890
Owner's Equity,Dec 31=Owner's Equity, Jan 1+Additional Investment-Drawings+Total Revenue-Total Expense
35890=40600+7930-Drawings(f)+405200-384700
35890=69030-Drawings(f)
Drawings(f)=69030-35890=33140
Psl Company
Asset=Liabilities+Owner's Equity
Asset(g)=78030+52690=130720
187800=Liabilities(h)+78580
Liabilities(h)=187800-78580=109220
Owner's Equity,Dec 31=Owner's Equity, Jan 1+Additional Investment-Drawings+Total Revenue-Total Expense
78580=52690+10120-12260+Total Revenue(i)-346500
78580=Total Revenue(i)-295950
Total Revenue(i)=78580+295950=374530
Omega Company
Asset=Liabilities+Owner's Equity
141400=Liabilities(j)+87660
Liabilities(j)=141400-87660=53740
Asset(k)=103300+152700=256000
Owner's Equity,Dec 31=Owner's Equity, Jan 1+Additional Investment-Drawings+Total Revenue-Total Expense
152700=87660+11250-11600+512000-Total Expense(l)
152700=599310-Total Expense(l)
Total Expense(l)=599310-152700=446610
