January 1, 2022(b)AssetsLiabilitiesOwner's equityDecember 31, 2022AssetsLiabilitiesOwner's equityOwner's equity changes in yearAdditional investmentDrawingsTotal revenuesTotal expensesYour answer is partially correct.Owner's Capital, January 1AddCullumberCompanyNet Income/(Los)$78,00049,00030,000110.00060,00050,000$13,000 (c)18,000351,000326,000(2)(b)IvanhoeCompany$91,00049,00042,000113,00071,00042,0006,000Prepare the owner's equity statement for Cullumber Company. (List items that increase owner's equity first.)CULLUMBER COMPANYOwner's Equity Statement43,000420,000383,000(d)$000OrioleCompany122,00077,00045,000187,000103,00084,00011,50012,400385,900346,000A0PharoahCompany$143,00048,00095,000245,000100,000145,00014,00012,000515,000467,0000(k)00

Owner's equity is the capital invested by the owner in the Company and is recorded in the Balance…

January 1, 2022 Assets (b) Liabilities Owner's equity December 31, 2022 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses Your answer is partially correct. Owner's Capital, January 1 Add V Cullumber Company Net Income/(Loss) $78,000 48,000 30.000 110.000 60,000 50,000 11.000 (c) 18,000 351,000 (b) 326,000 Ivanhoe Company CULLUMBER COMPANY Owner's Equity Statement $91,000 49,000 42,000 113,000 71,000 42,000 6,000 Prepare the owner's equity statement for Cullumbar Company (List items that increase owner's equity first) 43.000 420,000 383,000 (d) (9) 100 Oriole Company 122.000 77,000 45,000 187,000 103,000 84,000 11.500 12,400 385.900 346.000 00 Pharoah Company $143,000 48.000 95,000 245.000 100,000 145.000 14,000 12,000 515,000 467,000 n (k) 00

January 1, 2022 Assets (b) Liabilities Owner's equity December 31, 2022 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses Your answer is partially correct. Owner's Capital, January 1 Add V Cullumber Company Net Income/(Loss) $78,000 48,000 30.000 110.000 60,000 50,000 11.000 (c) 18,000 351,000 (b) 326,000 Ivanhoe Company CULLUMBER COMPANY Owner's Equity Statement $91,000 49,000 42,000 113,000 71,000 42,000 6,000 Prepare the owner's equity statement for Cullumbar Company (List items that increase owner's equity first) 43.000 420,000 383,000 (d) (9) 100 Oriole Company 122.000 77,000 45,000 187,000 103,000 84,000 11.500 12,400 385.900 346.000 00 Pharoah Company $143,000 48.000 95,000 245.000 100,000 145.000 14,000 12,000 515,000 467,000 n (k) 00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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