Use the expanded accounting equation to compute the missing financial statement amounts. CompanyAssets.=Liability+Owner capital -Owner withdrawals+ Revenues- Expenses1. $64,000 $22,000 $32,000 $0 $? $14,0002. $102,800 $38,000 $56,000 $? $36,000 $24,000What is the revenues amount for company 1 and the owner withdrawals for company 2?

1. The revenue amount for company 1 is $24,000

2. The owner withdrawals for company 2 is $3,200

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses  

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000  

Revenue = 64,000 - 22,000 - 32,000 + 14,000  

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

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1. $24,000

2. $3,200

Explanation:

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000

Revenue = 64,000 - 22,000 - 32,000 + 14,000

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; that person may have a larger tax bill to pay on income taxes;