Ray Wongs Magic Company has a capital balance on January 1, 2021, of $25,600. Ray Wong has
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Ray Wong’s Magic Company has a capital balance on January 1, 2021, of $25,600. Ray Wong has drawings of $12,000. Prepare a statement of owner’s equity for the year assuming that net income is $14,200 for the year.
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Related Book For 
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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