Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which image below correctly shows a statement of owner s equity? Company, Inc. Statement of Change in Owner's Equity 2 0 1 1 - 2

Which image below correctly shows a statement of owners equity?
Company, Inc.
Statement of Change in Owner's Equity
2011-2012
Beginning Balance: Jan 1 $45,000.00
ADD: Capital Added $24,000.00
Subtotal: $69,000.00
LESS: Net Loss $10,000.00
LESS: Expenses $5,000.00
Ending Balance: $54,000.00
Company, Inc.
Statement of Change in Owner's Equity
2011-2012
Beginning Balance: Jan 1 $45,000.00
ADD: Capital Added $12,000.00
ADD: Net Income $15,000.00
Subtotal $72,000.00
LESS: Drawings $3,500.00
Ending Balance: Dec 31 $68,500.00
Company, Inc.
Statement of Change in Owner's Equity
May 2012
Beginning Balance: $45,000.00
ADD: Revenue $12,000.0
ADD: Net Income $18,000.00
Subtotal: $75,000.00
LESS: Assets $3,500.00
Ending Balance: $71,500.00
Company, Inc.
Statement of Change in Owner's Equity
2011-2012
Beginning Balance: Jan 1 $45,000.00
ADD: Capital Added $24,000.00
ADD: Liabilities $15,000.00
Subtotal $84,000.00
LESS: Expenses $3,500.00
Ending Balance: Dec 31 $80,500.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Ch 1-14

Authors: John Wild, Vernon Richardson, Ken Shaw

1st Edition

0073346896, 9780073346892

More Books

Students also viewed these Accounting questions