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

question 14

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$$\underline{\text { Proprietorship} }$
$\begin{array}{lrrr}&\underline{ \mathrm{X}} &\underline{ \mathrm{Y}} &\underline{ \mathrm{Z}} \\\text { Beginning of the Year: }\\\text { Assets } & \$ 390,000 & \$ 150,000 & \$ 215,000 \\\quad \text { Liabilities } & 240,000 & 105,000 & 168,000 \\\text { End of the Year: } & \\\quad \text { Assets } & 450,000 & 175,000 & 195,000\\\quad \text { Liabilities } & 275,000 & 90,000 & 170,000 \\\text { During the Year: } & \\\quad \text { Additional Investment by the owner } & \underline{? } &74,000 & 80,000 \\\quad \text { Withdrawals by the owner } & 95,000 && 83,000 & \underline{? }\\\text { Revenue } & 195,000 & ? & 185,000 \\\text { Expenses } & 160,000 & 113,000 & 175,000\end{array}$

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