Pamps
Feb 12, 2013, 11:26 AM
My textbook question begins with "Assuming no additional investments by or distributions to owners, compute the missing amounts for the 3 companies below
It gives me 3 companies assets and liabilities and owners equity at the beginning of the year and once again at the end of the year. I have the revenues and expenses during the year.
Assets Jan. 1: 360
Liabilities Jan. 1: 280
O.E. Jan.1 : 80
Assets Dec. 31: 380
Liabilities dec. 31: ?
OE. Dec 31: ?
Revenues: 80
Expenses: 100
How do I figure our those two blanks for this company over the course of one year?
It gives me 3 companies assets and liabilities and owners equity at the beginning of the year and once again at the end of the year. I have the revenues and expenses during the year.
Assets Jan. 1: 360
Liabilities Jan. 1: 280
O.E. Jan.1 : 80
Assets Dec. 31: 380
Liabilities dec. 31: ?
OE. Dec 31: ?
Revenues: 80
Expenses: 100
How do I figure our those two blanks for this company over the course of one year?