Exercise 1-11 Two items are omitted from each of the following summaries of balance sheet and income statement data for two…

Exercise 1-11

Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2014, Steven Craig and Georgia Enterprises.

Determine the missing amounts.

		Steven Craig			Georgia Enterprises
Beginning of year:
Total assets		$108,068			$143,719
Total liabilities		94,699			[removed]	(c)
Total stockholders’ equity		[removed]	(a)		83,558
End of year:
Total assets		178,256			200,538
Total liabilities		133,692			55,705
Total stockholders’ equity		44,564			144,833
Changes during year in stockholders’ equity:
Additional investment		[removed]	(b)		27,853
Dividends		26,738			[removed]	(d)
Total revenues		239,532			111,410
Total expenses		194,968			61,276

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