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The revenues and expenses of Up-in-the-Air Travel Service for the year ended April 30, 20Y7, follow: Prepare a statement of owner's equity for the year
The revenues and expenses of Up-in-the-Air Travel Service for the year ended April 30, 20Y7, follow: Prepare a statement of owner's equity for the year ended April 30, 20Y7. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $26,000 for personal use. Jerome Foley, capital as of May 1,20Y6, was $668,000. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity. Labels and Amount Descriptions Labels For the Month Ended April 30, 20Y7 For the Year Ended April 30, 20 Y7 Amount Descriptions 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, 20 Y6 Jerome Foley, capital, April 30, 20 Y7 Prepare a statement of owner's equity for the year ended April 30, 20Y7. Jerome Foley, the owner, invested an additional $52,000 in the during the year and withdrew cash of $26,000 for personal use. Jerome Foley, capital as of May 1,20Y6, was $668,000. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity
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