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One Item Is Omitted in Each of the Following Summaries \quad

Question 219

Essay

One item is omitted in each of the following summaries of balance sheet and income statement data for three different sole proprietorships X Y and Z. Determine the amounts of the missing items identifying each proprietorship by letter. \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad  Proprietorship \underline{\text { Proprietorship} }
XYZ Beginning of the Year:  Assets $390,000$150,000$215,000 Liabilities 240,000105,000168,000 End of the Year:  Assets 450,000175,000195,000 Liabilities 275,00090,000170,000 During the Year:  Additional Investment by the owner ?74,00080,000 Withdrawals by the owner 95,00083,000? Revenue 195,000?185,000 Expenses 160,000113,000175,000\begin{array}{lrrr}&\underline{ \mathrm{X}} &\underline{ \mathrm{Y}} &\underline{ \mathrm{Z}} \\\text { Beginning of the Year: }\\\text { Assets } & \$ 390,000 & \$ 150,000 & \$ 215,000 \\\quad \text { Liabilities } & 240,000 & 105,000 & 168,000 \\\text { End of the Year: } & \\\quad \text { Assets } & 450,000 & 175,000 & 195,000\\\quad \text { Liabilities } & 275,000 & 90,000 & 170,000 \\\text { During the Year: } & \\\quad \text { Additional Investment by the owner } & \underline{? } &74,000 & 80,000 \\\quad \text { Withdrawals by the owner } & 95,000 && 83,000 & \underline{? }\\\text { Revenue } & 195,000 & ? & 185,000 \\\text { Expenses } & 160,000 & 113,000 & 175,000\end{array}

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