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Irisu
Sep 14, 2013, 04:27 PM
So I'm confused as to how to go about calculating the missing amounts in the owners equity here:

http://i889.photobucket.com/albums/ac94/star514/1174294_578185448914392_138790194_n.jpg (http://s889.photobucket.com/user/star514/media/1174294_578185448914392_138790194_n.jpg.html)

This is what I have so far

http://i889.photobucket.com/albums/ac94/star514/accoutning-1.png (http://s889.photobucket.com/user/star514/media/accoutning-1.png.html)

pready
Sep 15, 2013, 02:02 PM
A, C, and E are correct.

The formula for B, D, and F that you need is the formula for changes in equity, which is:
Ending Equity = Beginning Equity + Investments + Revenues - Expenses - Drawings

B. This can be rewritten as:
Investments = Ending Equity - Beginning Equity - Revenues + Expenses + Drawings

D. This can be rewritten as:
Drawings = Ending Equity - Beginning Equity - Investments - Revenues + Expenses

F. This can be rewritten as:
Revenues = Ending Equity - Beginning Equity - Investments + Expenses + Drawings