Question

Compute the missing amount for each of the following separate companies a through d. (Losses and amounts to be deducted should be indicated with a minus sign.) Equity, December 31, 2016 Owner investments during the year Owner withdrawals during the year Net income (loss) for the year Equity, December 31, 2017 72,420 (54,000) 36,210 $ 93,000 $ 90,210 84,215 (8,000) (6,000) 200,254 (54,000) 91,000 87,000 $ 100,254

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Answer #1

Calculate missing amount

a b c d
Equity December 31,2016 0 0 0 0
Owner Investment during the year 91000 108000 84215 200254
Owner withdrawal during the year 85000 -54000 -8000 -54000
Net income (loss) for the year 87000 36210 -6000 -46000
Equity, December 31,2017 93000 90210 70215 100254
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