 Accounting 100

### Question Description

At the beginning of the year, Sielert Company had total assets of \$851,810 and total liabilities of \$290,850. Answer the following questions.

(a) If total assets increased \$143,520 during the year and total liabilities decreased \$63,130, what is the amount of owner’s equity at the end of the year?

 Owner’s equity \$ (b) During the year, total liabilities increased \$104,990 and owner’s equity decreased \$54,060. What is the amount of total assets at the end of the year?

 Total assets \$ (c) If total assets decreased \$51,850 and owner’s equity increased \$93,370 during the year, what is the amount of total liabilities at the end of the year?

 Total liabilities \$ Use the expanded accounting equation to answer each of the following questions.

(a) The liabilities of Roman Company are \$90,710. Owner’s capital account is \$143,500; drawings are \$83,680; revenues, \$469,480; and expenses, \$330,080. What is the amount of Roman Company’s total assets?

 Roman Company’s total assets \$ (b) The total assets of Dylan Company are \$65,960. Owner’s capital account is \$22,430; drawings are \$7,830; revenues, \$47,850; and expenses, \$31,700. What is the amount of the company’s total liabilities?

 Dylan Company’s total liabilities \$ (c) The total assets of Capp Co. are \$660,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.’s owner’s equity?

 Capp Co.’s owner’s equity \$ Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garba’s Goods and Zahra Enterprises.

Determine the missing amounts.

 Garba’sGoods ZahraEnterprises Beginning of year: Total assets \$151,371 \$177,517 Total liabilities 116,969 \$ (c) Total owner’s equity \$ (a) 110,088 End of year: Total assets 220,176 247,698 Total liabilities 165,132 68,805 Total owner’s equity 55,044 178,893 Changes during year in owner’s equity: Additional investment \$ (b) 34,403 Drawings 39,907 \$ (d) Total revenues 295,862 137,610 Total expenses 240,818 82,566  FinAccGuru (1385)
Duke University    Review Anonymous
Thanks for the help. Anonymous
Outstanding. Studypool always delivers quality work. Anonymous
Tutor was very helpful and took the time to explain concepts to me. Very responsive, managed to get replies within the hour. Studypool 4.7 Trustpilot 4.5 Sitejabber 4.4 Brown University

1271 Tutors California Institute of Technology

2131 Tutors Carnegie Mellon University

982 Tutors Columbia University

1256 Tutors Dartmouth University

2113 Tutors Emory University

2279 Tutors Harvard University

599 Tutors Massachusetts Institute of Technology

2319 Tutors New York University

1645 Tutors Notre Dam University

1911 Tutors Oklahoma University

2122 Tutors Pennsylvania State University

932 Tutors Princeton University

1211 Tutors Stanford University

983 Tutors University of California

1282 Tutors Oxford University

123 Tutors Yale University

2325 Tutors