Homework SourseStatement of Owners Equity Zoe Backus owns and operates Back
Statement of Owner\'s Equity
Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Zoe Backus, Capital had a balance of $210,300. During the year, Zoe invested an additional $10,500 and withdrew $73,600. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $104,500.
Prepare a statement of owner\'s equity for the year ended December 31, 2018. Use the minus sign to indicate negative values.
| Backus Advertising Services | ||
| Statement of Owner\'s Equity | ||
| For the Year Ended December 31, 2018 | ||
| $ | ||
| $ | ||
| $ |
Solution
Answer
statement of share holders equity
| zoe backus capital on january 1 2018 | 210300 | |
| additional investment in capital | 10500 | |
| net income | 104500 | |
| less; withdrawal | 73600 | |
| increase in capital during the | 31400 | 31400 |
| zoe backus capital on december 31 2018 | 241700 | |
