Assesment 2.docx - BUS-FP3061 Assessment 2 Part 4 Template BUS-FP3061 – Fundamentals of Accounting Instructions In each of the two sets of

Assesment 2.docx - BUS-FP3061 Assessment 2 Part 4 Template...

This preview shows page 1 out of 1 page.

BUS-FP3061 – Fundamentals of Accounting Instructions In each of the two sets of organization financial statement information, two items have been omitted. Replace the question marks with the missing amounts. Use the area below the table to show any calculations used to arrive at the final answer for each missing amount. Smith Industries ($) Jones Chips, Inc. ($) Beginning of year: Total assets 110,000 129,000 Total liabilities 85,000 49,000 Total equities 25,000 80,000 End of year: Total assets 160,000 180,000 Total liabilities 120,000 50,000
Image of page 1

Unformatted text preview: Total equities 40,000 130,000 Changes during the year in equities: Additional owner investment 11,000 25,000 Owner's withdrawals 29,000 15,000 Total revenues 215,000 100,000 Total expenses 175,000 60,000 110,000 - 85,000 = 25,000 129,000 - 80,000 = 49,000 29,000 + 11,000 = 40,000 215,000 - 40,000 = 175,000 100,000 - 25,000 = 75,000 therefore the difference is 25,000 Capella Proprietary and Confidential ShortDoc_Internal.doc Last updated: 2/25/2015 9:15 AM 1 BUS-FP3061 Assessment 2, Part 4 Template...
View Full Document

  • Winter '17
  • Paul Franklin

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes