At the end of the year, on December 31, 2019, the bookkeeper of the Jonny Company prepared an Unadjusted Trial Balance with corresponding adjustments at the end of the year. Prepare the Statement of Changes in Owner's Equity of Jonny Company. Unadjusted Trial BalanceAdjustmentDebitParticularsDebitCreditCreditCashCash in BankAccounts ReceivableInventoryLand31,50050,00020,10040,5001,500,000c. 1,000180,000EquipmentAccumulated Dep – Eqpt.Accounts PayableIncome Tax PayableUnearned IncomeLoans PayableLong-term DebtJonny, CapitalJonny, DrawingsSalesSales Return & AllowancesSales DiscountCost of SalesAdvertising ExpenseSalaries ExpenseUtilities ExpenseRent Expenseb. 8,00032,00080,50055,0004,000d. 4,000150,000255,0001,227,6005,000460,000d. 4,00012,0008,000c. 1,000315,00016,00059,000a. 5,00017,00010,000Totals2,264,1002,264,100Depreciation ExpenseAccrued Salaries Payableb. 8,000a. 5,00018,000Totals18,000Net IncomeTotals

Statement of changes in owners equity shows all changes in the equity balance of the business for…

At the end of the year, on December 31, 2019, the bookkeeper of the Jonny Company prepared an Unadjusted Trial Balance with corresponding adjustments at the end of the year. Prepare the Statement of Changes in Owner's Equity of Jonny Company.

At the end of the year, on December 31, 2019, the bookkeeper of the Jonny Company prepared an Unadjusted Trial Balance with corresponding adjustments at the end of the year. Prepare the Statement of Changes in Owner's Equity of Jonny Company.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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