Check My Work: The balance sheet shows the balances of the assets, liabilities and owner's equity accounts at a point equity to determine the balance in owner's capital. Income Statement For Month Ended January 31, 20-- Revenues: Consulting fees Expenses: WagesexpenseRentexpenseUtilitiesexpenseexpense Miscellaneous expense \begin{tabular}{|llrr|} \hline Office Equipment & 181 & 1,400 & \\ Accounts Payable & 202 & & 1,450 \\ Diane Bernick, Capital & 311 & 15,000 \\ Diane Bernick, Drawing & 312 & 400 & \\ Consulting Fees & 401 & 1,700 \\ Wages Expense & 511 & 1,000 & \\ Rent Expense & 521 & 800 & \\ Phone Expense & 525 & 95 & \\ Utilities Expense & 533 & 125 & \\ Miscellaneous Expense & 549 & 35 & \\ & & 18,150 & 18,150 \end{tabular} 2. Prepare a statement of owner's equity. Bernick's Consulting Statement of Owner's Equity For Month Ended January 31, 20-- Diane Bernick, capital, January 1,20 V Investments during January Total investment Less: Net loss for January Less: Withdrawals for January Decrease in capital x T. I + Diane Bernick, capital, January 31, 20- ncial Statements Bernick opened Bernick's Consulting. Trans 1 Bernick invested cash in the business, $1 2 Paid office rent, $800. 3 Purchased office equipment on account, 5 Received cash for services rendered, $1, 8 Paid phone bill, $95. 10 Paid for a magazine subscription (miscell 11 Purchased office supplies on account, $2 15 Made a payment on account (see Jan. 3 18 Paid part-time employee, $500. 21 Recelved cash for services rendered, $70 25 Paid utilities bill, $125. 27 Bernick withdrew cash for personal use, 29 Paid part-time employee, $500. Bernick's Consulting Check My Work: The balance sheet shows the balances of the assets, liabilities and owner's equity accounts at a point equity to determine the balance in owner's capital. Income Statement For Month Ended January 31, 20-- Revenues: Consulting fees Expenses: WagesexpenseRentexpenseUtilitiesexpenseexpense Miscellaneous expense \begin{tabular}{|llrr|} \hline Office Equipment & 181 & 1,400 & \\ Accounts Payable & 202 & & 1,450 \\ Diane Bernick, Capital & 311 & 15,000 \\ Diane Bernick, Drawing & 312 & 400 & \\ Consulting Fees & 401 & 1,700 \\ Wages Expense & 511 & 1,000 & \\ Rent Expense & 521 & 800 & \\ Phone Expense & 525 & 95 & \\ Utilities Expense & 533 & 125 & \\ Miscellaneous Expense & 549 & 35 & \\ & & 18,150 & 18,150 \end{tabular} 2. Prepare a statement of owner's equity. Bernick's Consulting Statement of Owner's Equity For Month Ended January 31, 20-- Diane Bernick, capital, January 1,20 V Investments during January Total investment Less: Net loss for January Less: Withdrawals for January Decrease in capital x T. I + Diane Bernick, capital, January 31, 20- ncial Statements Bernick opened Bernick's Consulting. Trans 1 Bernick invested cash in the business, $1 2 Paid office rent, $800. 3 Purchased office equipment on account, 5 Received cash for services rendered, $1, 8 Paid phone bill, $95. 10 Paid for a magazine subscription (miscell 11 Purchased office supplies on account, $2 15 Made a payment on account (see Jan. 3 18 Paid part-time employee, $500. 21 Recelved cash for services rendered, $70 25 Paid utilities bill, $125. 27 Bernick withdrew cash for personal use, 29 Paid part-time employee, $500. Bernick's Consulting