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Baron Coburg Solution

The document contains balance sheets and income statements for two farmers, Ivan and Frederick, showing their assets, liabilities, equity and earnings over one period in bushels of wheat. Ivan had higher total assets and earnings than Frederick at the beginning and end of the period, earning 214 bushels compared to Frederick's 122 bushels. Both farmers withdrew some income but ended with increased equity.

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Amit Patel
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10K views2 pages

Baron Coburg Solution

The document contains balance sheets and income statements for two farmers, Ivan and Frederick, showing their assets, liabilities, equity and earnings over one period in bushels of wheat. Ivan had higher total assets and earnings than Frederick at the beginning and end of the period, earning 214 bushels compared to Frederick's 122 bushels. Both farmers withdrew some income but ended with increased equity.

Uploaded by

Amit Patel
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Ivan-Balance Sheet-Beginning

(in Bushels of Wheat)

Assets Liabilities and Owner's Equity


Seed 20
Fertilizer 2
Ox 40
Land 100 Baron's Equity 162
Total 162 Total 162

Frederick-Balance Sheet-Beginning
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 10
Fertilizer 1
Ox 40
Land 50 Baron's Equity 101
Total 101 Total 101

Ivan-Income Statement
(in Bushels of Wheat)
Wheat 243
Production Expenses
Seed 20
Fertilizer 2
Ox Usage 4
Plow Usage 3 29
Earnings 214 10.7Per Acre earnings
Owner
IncomeWithdrawal
to Retained 20
Earnings 194

Frederick-Income Statement
(in Bushels of Wheat)
Wheat 138
Production Expenses
Seed 10
Fertilizer 1
Ox Usage 4
Plow Usage 1 16
Earnings 122 12.2Per Acre earnings
Owner
IncomeWithdrawal
to Retained 30
Earnings 92
Ivan-Balance Sheet-End
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 223 Liabilities (Plow) 3
Ox 36 Baron's Equity
162
Land 100 Contributed
Retained 194
Total 359 Total 359

Frederick-Balance Sheet-End
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 105
Ox 36 Baron's Equity
101
Plow 2 Contributed
Land 50 Retained 92
Total 193 Total 193

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