Question
The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow. Accounts (revenue and expense items) Fees earned $1,475,000 Office
The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow. Accounts (revenue and expense items) Fees earned $1,475,000 Office expense 320,000 Miscellaneous expense 28,000 Wages expense 885,000 Prepare a statement of owners equity for the year ended November 30, 2016. Shane Ousel, the owner, invested an additional $50,000 in the business during the year and withdrew cash of $30,000 for personal use. Shane Ousel, capital as of December 1, 2015, was $666,000. 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 owners equity, enter that amount as a negative number using a minus sign.
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