blanks for each of the five separate equity section relationships. Company Company Company 3 Financial Information Company Company Beginning capital 6 000 6 000 15 000 62 000 Total revenues 10 000 29 000 Total expenses 8 000 11 000 30 000 35 000 Net income or loss (-) 14 000 11 000 20 000 -5 000 12 000 Drawings Increase or decrease (-) in equity 3 000 15 000 -6 000 -10 000 Ending capital 10 000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 17MC: If equity equals $100,000, which of the following is true? A. Assets exceed liabilities by $100,000....
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2. In your Workbook, complete the following schedule. Fill in the
blanks for each of the five separate equity section relationships.
Financial Information
Company
Company
Company
Company
Company
2
3
4
Beginning capital
6 000
6 000
15 000
62 000
Total revenues
10 000
29 000
Total expenses
8 000
11 000
30 000
35 000
Net income or loss (-)
14 000
II 000
20 000
-5 000
Drawings
3 000
12 000
15 000
Increase or decrease (-)
-6 000
-10 000
in equity
Ending capital
10 000
Transcribed Image Text:2. In your Workbook, complete the following schedule. Fill in the blanks for each of the five separate equity section relationships. Financial Information Company Company Company Company Company 2 3 4 Beginning capital 6 000 6 000 15 000 62 000 Total revenues 10 000 29 000 Total expenses 8 000 11 000 30 000 35 000 Net income or loss (-) 14 000 II 000 20 000 -5 000 Drawings 3 000 12 000 15 000 Increase or decrease (-) -6 000 -10 000 in equity Ending capital 10 000
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