Fill in the Blanks
Ascertain the missing items (A L) in the following independent situations.
|
1 |
2 |
3 |
|
|
Assets, January 1 |
$12,000 |
E |
I |
|
Assets, December 31 |
$ 9,000 |
F |
$ 9,500 |
|
Liabilities, January 1 |
A |
$ 5,000 |
$ 3,200 |
|
Liabilities, December 31 |
$ 7,500 |
$ 5,200 |
J |
|
Owners’ equity, January 1 |
$ 7,500 |
$ 3,200 |
K |
|
Owners’ equity, December 31 |
B |
$ 5,300 |
$ 8,000 |
|
Revenues |
$25,000 |
$12,000 |
L |
|
Expenses |
$16,200 |
G |
$22,000 |
|
Contributions by owners |
$ 2,000 |
H |
$ 2,000 |
|
Withdrawals by owners |
C |
$ 1,200 |
$ 3,500 |
|
Net income |
D |
$ 3,000 |
$ 4,000 |