E F Owner, Сapital 1 Owner, Company Assets Liabilities Withdrawals Revenues Expenses $ 40,000 $ 80,000 $ 16,000 $ 32,000 $ 20,000 $ 44,000 $0 (b) $ 8,000 $ 18,000 3 1 (0) $ 24,000 4 2

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Use the expanded accounting equation to compute the missing financial statement amounts (a) and (b).

E
F
Owner,
Сapital
1
Owner,
Company
Assets
Liabilities
Withdrawals
Revenues
Expenses
$ 40,000
$ 80,000
$ 16,000
$ 32,000
$ 20,000
$ 44,000
$0
(b)
$ 8,000
$ 18,000
3
1
(0)
$ 24,000
4
2
Transcribed Image Text:E F Owner, Сapital 1 Owner, Company Assets Liabilities Withdrawals Revenues Expenses $ 40,000 $ 80,000 $ 16,000 $ 32,000 $ 20,000 $ 44,000 $0 (b) $ 8,000 $ 18,000 3 1 (0) $ 24,000 4 2
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