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.
| |
|
Garba's
Goods |
|
Zahra
Enterprises |
| Beginning of year: |
|
|
|
|
|
|
| Total assets |
|
$110,000 |
|
|
$129,000 |
|
| Total liabilities |
|
85,000 |
|
|
$ |
(c) |
| Total owner's equity |
|
$ |
(a) |
|
80,000 |
|
| End of year: |
|
|
|
|
|
|
| Total assets |
|
160,000 |
|
|
180,000 |
|
| Total liabilities |
|
120,000 |
|
|
50,000 |
|
| Total owner's equity |
|
40,000 |
|
|
130,000 |
|
| Changes during year in owner's equity: |
|
|
|
|
|
|
| Additional investment |
|
$ |
(b) |
|
25,000 |
|
| Drawings |
|
29,000 |
|
|
$ |
(d) |
| Total revenues |
|
215,000 |
|
|
100,000 |
|
| Total expenses |
|
175,000 |
|
|
60,000 |
Determine the missing amounts.