The following three independent sets of financial statements have several amounts missing. Complete each

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1.     The following three independent sets of financial statements have several amounts missing. Complete each set of financial statements by determining the amounts that correspond to the letters.

 

 

Income Statement                                          Set A                     Set B                      Set C

Revenues                                                            $5,320                   $  8,600 $       m

Expenses                                                             a                              g                              2,010

Net income                                                        $   510                   $          h                 $        n

Statement of Owner’s Equity

Beginning balance                                           $1,780                   $15,400                 $   200

Net income                                                        b                            i                               450

Less withdrawals                                              c                              1,000                     o____

Ending balance                                                  $        d                   $16,000                 $        p

Balance Sheet

Total assets                                                        $        e                   $            j                $1,900

Liabilities                                                              $        f                    $  2,000 $1,300

Owner’s equity

Owner’s capital                                                 2,100                     k                              q____

 

Total liabilities and owner’s equity           $2,700                   $            l                 $         r

    • 7 years ago
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