Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital
Required information
The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $71,500 (Transaction 1).
Assets | = | Liab. | + | Owner's Equity | ||||||||||||
Transaction | Cash | Accts. Rec. | Supp. | Equip. | Accts. Pay. | G. Sawyer, Capital | Rev. | Exp. | ||||||||
1 | +71,500 | +71,500 | ||||||||||||||
2 | 8,100 | +8,100 | ||||||||||||||
3 | +5,100 | +5,100 | ||||||||||||||
4 | +3,580 | +3,580 | ||||||||||||||
5 | 3,450 | 3,450 | ||||||||||||||
6 | + 660 | 660 | ||||||||||||||
7 | 2,300 | 2,300 | ||||||||||||||
8 | 440 | +440 | ||||||||||||||
Bal | 57,870 | + | 4,440 | + | 440 | + | 11,680 | = | 3,580 | + | 69,200 | + | 5,100 | 3,450 | ||
Prepare the statement of owner's equity for Sawyer Architecture Services for the month ended June 30, 2019.
Craig Sawyer, Capital, June 1st.,2019 $______________
Net income for June $____________
Less Withdrawals for June. $___________
Greg Sawyer, Capital, June 30, 2019. $_____________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started