Statement Of Owner's Equity

Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred.

1. Invested cash in business, $18,000.
2. Bought office supplies for $4,600: $2,200 in cash and $2,400 on account.
3. Paid one-year insurance premium, $1,500.
4. Earned revenues totaling $3,600: $1,500 in cash and $2,100 on account.
5. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,050.
6. Paid office rent for the month, $800.
7. Withdrew cash for personal use, $100.

The effect of each transaction is shown in the individual accounts of the expanded accounting equation.

Assets								=	Liabilities	+	Owner's Equity
(Items Owned)									(Amts. Owed)		(Owner's Investment)				(Earnings)
	Cash	+	Accounts Receivable	+	Office Supplies	+	Prepaid Insurance	=	Accounts Payable	+	J. Pembroke, Capital	-	J. Pembroke, Drawing	+	Revenues	-	Expenses		Description
a.	18,000										18,000
b.	(2,200)				4,600				2,400
c.	(1,500)						1,500
d.	1,500		2,100												3,600				Service fees
e.	(2,050)								(2,050)
f.	(800)																800		Rent expense
g.	(100)												100
Bal.	12,850	+	2,100	+	4,600	+	1,500	=	350	+	18,000	-	100	+	3,600	-	800

The income statement for Jay Pembroke for the month ended April 30, 20-- is shown.

Jay Pembroke Income Statement For Month Ended April 30, 20--
Revenues:
Service fees	$3,600
Expenses:
Rent expense	800
Net income	$2,800

Required:

Use the information to prepare a statement of owners equity for Jay Pembroke for the month of April 20--. If an amount is zero, enter "0".

Jay Pembroke Statement of Owner's Equity For Month Ended April 30, 20--

J. Pembroke, Capital, April 1, 20	X	_______
Investment during April	X	________
Total investment	X	_______
Net income for april	_______	X
Less withdrawals for April	_______	X
Increase in Capital	X	_________
Jay Pembroke Capital, April 30, 20--	X	________