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The revenues and expenses of Adventure Travel Service for the year ended April 30, 2019, follow: Prepare a statement of owner's equity for the year
The revenues and expenses of Adventure Travel Service for the year ended April 30, 2019, follow: Prepare a statement of owner's equity for the year ended April 30, 2019. Jerome Foley, the owner, invested an additional $60,000 in the business during the year and withdrew cash of $40,000 for personal use. Jerome Foley, capital as of May 1, 2018, was $1,020,000. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or there is a decrease in owner's equality, enter that amount as a negative number using a minus sign. Labels and Amount Descriptions For the Year Ended April 30, 2019 Additional investment by owner during year Decrease in owner's equity Increase in owner's equity withdrawals Net income for the year Net loss for the year Jerome Foley, capital, May 1, 20198 Jerome Foley, capital, April 30, 2019 Prepare a statement of owner's equity for the ended April 30, 2019. Jerome Foley, the owner, invested an additional $60,000 in the business during the year and withdraw cash of $40,000 for personal use, Jerome Foley, capital as of May , 2018, was $1,020,000. Refers to the lists of labels and amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred there is a decrease in owner's equity, enter that amount as a negative using a minus sign
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