Presented below is information related to the sole proprietorship of Huan Feng attorney. Legal service revenue2014 .........$335,000

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Presented below is information related to the sole proprietorship of Huan Feng attorney.

Legal service revenue—2014 .........$335,000

Total expenses—2014 ............ 211,000

Assets, January 1, 2014 .......... 96,000

Liabilities, January 1, 2014 .......... 62,000

Assets, December 31, 2014 ......... 168,000

Liabilities, December 31, 2014 ....... 100,000

Drawings—2014 .............. ?

Instructions

Prepare the 2014 owner’s equity statement for Huan Feng’s legal practice.

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 12:55 AM

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Presented below is information related to the sole proprietorship of Huan Feng attorney. Legal service revenue2014 .........$335,000

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