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    Laquana Grant
    The documents show the beginning and ending balance sheets for farmers Ivan and Frederick, as well as their income statements. Ivan started with $162 in assets and ended with $359 after selling wheat for $379, spending $47 on expenses, and withdrawing $20. Frederick started with $101 in assets and ended with $193 after unspecified wheat sales and expenses of $25, withdrawing $30.

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    Download as XLSX, PDF, TXT or read online from Scribd

    2 2

    Uploaded by

    Laquana Grant
    12 views4 pages
    The documents show the beginning and ending balance sheets for farmers Ivan and Frederick, as well as their income statements. Ivan started with $162 in assets and ended with $359 after selling wheat for $379, spending $47 on expenses, and withdrawing $20. Frederick started with $101 in assets and ended with $193 after unspecified wheat sales and expenses of $25, withdrawing $30.

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    2-2

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    The documents show the beginning and ending balance sheets for farmers Ivan and Frederick, as well as their income statements. Ivan started with $162 in assets and ended with $359 after selling wheat for $379, spending $47 on expenses, and withdrawing $20. Frederick started with $101 in assets and ended with $193 after unspecified wheat sales and expenses of $25, withdrawing $30.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    12 views4 pages

    2 2

    Uploaded by

    Laquana Grant
    The documents show the beginning and ending balance sheets for farmers Ivan and Frederick, as well as their income statements. Ivan started with $162 in assets and ended with $359 after selling wheat for $379, spending $47 on expenses, and withdrawing $20. Frederick started with $101 in assets and ended with $193 after unspecified wheat sales and expenses of $25, withdrawing $30.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Ivan-Balance Sheet-Beginning Frederick-Balance Sheet-Beginning

    Assets Liabilities and Owner's Equity Assets Liabilities and Owner's Equity
    Seed 20 Seed 10
    Fertilizer 2 Fertilizer 1
    Ox 40 Ox 40
    Land ### Baron's Equity 162 Land 50 Baron's Equity
    Total ### Total 162 Total 101 Total
    nce Sheet-Beginning
    ities and Owner's Equity

    101
    101
    Ivan-Balance Sheet-End Frederick-Balance Sheet-End
    Liabilities and Liabilities and
    Assets Owner's Equity Assets Owner's Equity
    Seed 223 Liabilities (Plow) 3 Seed 105
    Ox 36 Baron's Equity 20 Ox 36 Baron's Equity 30
    Land 100 Contributed ### Plow 2 Contributed ###
    Retained ### Land 50 Retained 92
    Total 359 Total ### Total 193 Total ###
    Ivan-Income Statement Frederick-Income Statement
    Wheat 379 Wheat ###
    Production Expenses Production Expenses
    Seed 20 Seed 10
    Fertilizer 20 Fertilizer 10
    Ox Usage 4 Ox Usage 4
    Plow Usage 3 47 Plow Usage 1 25
    Earnings 332 Earnings ###
    Owner Withdrawal 20 Owner Withdrawal 30
    Income to Retained Earnings 312 Income to Retained Earnings ###

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