Designer Dry cleaning showed the following information for its first and second months just ended, March and April of 2020: April 30, March 31, Account Title 2020 2020 Cash Cleaning supplies Prepaid rent Equipment Accounts payable Notes payable Christopher Dior, capital* 7,000 3,500 12,000 76,000 700 40,000 3,000 900 16,000 30,000 500 15,000 *Christopher Dior made a $10,000 investment during March and had withdrawals of $1,000 in March and $25,100 in April. Required: Use the information provided to complete a statement of changes in equity and a balance sheet for each of March and April 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Designer Dry cleaning showed the following information for its first and second months just ended, March and April of 2020:
April 30,
March 31,
Account Title
2020
2020
Cash
7,000
3,500
12,000
76,000
3,000
Cleaning supplies
Prepaid rent
Equipment
Accounts payable
Notes payable
Christopher Dior, capital*
900
16,000
30,000
500
700
40,000
15,000
*Christopher Dior made a $10,000 investment during March and had withdrawals of $1,000 in March and $25,100 in April.
Required:
Use the information provided to complete a statement of changes in equity and a balance sheet for each of March and April 2020.
DESIGNER DRYCLEANING
Statement of Changes in Equity
For Months Ended
April 30, 2020 March 31, 2020
Christopher Dior, capital, beginning
Total
Transcribed Image Text:Designer Dry cleaning showed the following information for its first and second months just ended, March and April of 2020: April 30, March 31, Account Title 2020 2020 Cash 7,000 3,500 12,000 76,000 3,000 Cleaning supplies Prepaid rent Equipment Accounts payable Notes payable Christopher Dior, capital* 900 16,000 30,000 500 700 40,000 15,000 *Christopher Dior made a $10,000 investment during March and had withdrawals of $1,000 in March and $25,100 in April. Required: Use the information provided to complete a statement of changes in equity and a balance sheet for each of March and April 2020. DESIGNER DRYCLEANING Statement of Changes in Equity For Months Ended April 30, 2020 March 31, 2020 Christopher Dior, capital, beginning Total
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