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eBook Show Me How Statement of Owner's Equity The revenues and expenses of Zenith Travel Service for the year ended August 31, 2014, follow: Fees
eBook Show Me How Statement of Owner's Equity The revenues and expenses of Zenith Travel Service for the year ended August 31, 2014, follow: Fees earned $955,895 Office expense 219,855 Miscellaneous expense 19,120 Wages expense 458,830 Prepare a statement of owner's equity for the year ended August 31, 2014. Megan Cox, the owner, invested an additional $57,400 in the business during withdrew cash of $36,300 for personal use. Megan Cox, capital as of September 1, 20Y3, was $258,000. Zenith Travel Service Statement of Owner's Equity For the Year Ended August 31, 2014 Megan Cox, capital, September 1, 20Y3 X 258,000 Additional investment by owner during the year 57,400 Net income for the year 258,090 Withdrawals 36,300 697.805 X Increase in owner's equity 537,190 Megan Cox, capital, August 31, 2014 Feedback Check My Work Follow Example Exercise 1-5. Recall that the statement of owner's equity considers additional investments of the owner, net income and withdrawals to calculate the end Previous
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