accounting 1 assignment 494921

Fredrick – balance sheet – beginning Assetsbushels Capital & liabilities bushels Seeds 10 Fertilizer 1 Ox 40 Land 50 Owner’s equity 101 Total 101 Total 101 Ivan- balance sheet beginning Assets bushels Assets bushels Seeds 20 Fertilizer 2 Ox 40 Land 100 Owner’s equity 162 Totals 162 Totals 162 Ivan – income statement bushels bushels wheat 243 Production expenses seed 20 fertilizer 2 Ox usage 4 Plow usage 3 Owner withdrawal 20 ( 47) Owners share 196 Fredrick – income statement Bushels bushels wheat 138 Production expenses seed 10 fertilizer 1 Ox usage 4 Plow usage 1 Owner withdrawal 30 ( 46) Owners share 92 The best peasant was Fredrick who produced a high harvest though he had minimum resources. No,1?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????