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Statement of Owner's Equity The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow: Fees earned$720,015Office expense165,605Miscellaneous expense14,400Wages expense345,605
Statement of Owner's Equity
Therevenuesandexpensesof Sentinel Travel Service for the year ended August 31, 2019, follow:
Fees earned$720,015Office expense165,605Miscellaneous expense14,400Wages expense345,605
Prepare a statement of owner's equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $43,200 in thebusinessduring the year and withdrew cash of $27,400 for personal use. Barb Schroeder, capital as of September 1, 2018, was $194,000.
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