Additional information Barbara Schroeder the owner invested

Additional information -Barbara Schroeder, the owner ,invested an additional $48,500 in the business during the year and withdrew cash of $30,700 for personal use.Barb Schroeder, capital as of September 1,2018,was $218,000
My question is how do I know what the owners equity is?

Solution

Solution:

Owners Equity = Opening capital + Additional captial added in business - Withdrawls

=$218,000 + $48,500 - $30,700

= $235,800