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I am unsure how to calculate the owners increase in equity and ending capital in year 20x4. Statement of Owner's Equity The revenues and expenses
I am unsure how to calculate the owners increase in equity and ending capital in year 20x4.
Statement of Owner's Equity The revenues and expenses of Zenith Travel Service for the year ended August 31, 20Y4, follow: Fees earned $946,610 217,720 Office expense Miscellaneous expense 18,930 Wages expense 454,375 Prepare a statement of owner's equity for the year ended August 31, 20Y4. Megan Cox, the owner, invested an additional $56,800 in the business during the year and withdrew cash of $36,000 for personal use. Megan Cox, capital as of September 1, 20Y3, was $256,000. Zenith Travel Service Statement of Owner's Equity For the Year Ended August 31, 2014 Megan Cox, capital, September 1, 2013 256,000 Additional investment owner during the year 56,800 Net income for the year 255,585 Withdrawals 36,000 Increase in owner's equity 20,386 Megan Cox, capital, August 31, 2014 276,386 XStep by Step Solution
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