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On December 31, Young Co. had the following list of accounts and their respective annual balances. Accounts Payable $ 40,500 Drawing $ 14,800 Accounts Receivable
On December 31, Young Co. had the following list of accounts and their respective annual balances. Accounts Payable $ 40,500 Drawing $ 14,800 Accounts Receivable 61,800 Prepaid Rent 11,200 Advertising Expense 1,400 Rent Expense 7,700 Beginning Capital 69,000 Supplies 19,600 Cash 43,500 Supplies Expense 3,600 O Consulting Revenue 48,400 Travel Expense 5,300 a Deferred Revenue 11,000 Required: Complete the statement of owner's equity below. Hint: First compute net income. Young Company Statement of Owner's Equity For Year Ended December 31 Beginning Capital $ 69,000 (Choose one) Change in Equity Ending Capital $ 69,000
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