Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the trial balance below, calculate ending yoga's Capital balance as at 30 June 2022. yogaS YOGA CLASS Trial Balance As of 30 June

Based on the trial balance below, calculate ending yoga's Capital balance as at 30 June 2022.

yogaS YOGA CLASS
Trial Balance
As of 30 June 2022
Debit Credit
Cash at bank $79,000
Accounts receivable $15,250
Accounts payable $7,250
Wages payable $7,000
Loan payable $30,000
yoga, Capital $30,000
yoga, Drawings $20,000
Service revenue $150,050
Adverting expense $12,020
Interest expense $1,320
Utility expense $16,710
Wages expense $80,000
$224,300 $224,300

yogaS YOGA CLASS
Statement of Changes in Equity
For the year ended 30 June 2022
Balance at 1 July 2021 ?
Add: Additional contribution ?
Add: Profit for the year ?
Less: Drawings ?
Net Increase or decrease during the year ?
Balance at 30 June 2022 ?

Please enter your answer without using dollar sign ($) and the thousand separator (,)

Answer:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In Quantitative Analysis Of Finance And Accounting (Vol. 4)

Authors: Lee Cheng Few

2nd Edition

9812700218, 9789812700216

More Books

Students also viewed these Accounting questions

Question

Why do ratings agencies assign ratings to commercial paper?

Answered: 1 week ago

Question

CL I P COL Astro- L(1-cas0) Lsing *A=2 L sin(0/2)

Answered: 1 week ago