$2,000 Miscellaneous Expense 10,340 Office expense 21,420 Supplies 73,390 Wages expense 47,000 Dividends 157,630 ockholders' equity for the current year es not require an entry, leave it blank Computer Services Stockholders' Equity ar Ended March 31

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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$2,000
Miscellaneous Expense
10,340 Office expense
21,420 Supplies
73,390 Wages expense
47,000 Dividends
157,630
ockholders' equity for the current year
es not require an entry, leave it blank
Computer Services
Stockholders' Equity
ar Ended March 31
Transcribed Image Text:$2,000 Miscellaneous Expense 10,340 Office expense 21,420 Supplies 73,390 Wages expense 47,000 Dividends 157,630 ockholders' equity for the current year es not require an entry, leave it blank Computer Services Stockholders' Equity ar Ended March 31
Expert Solution
Step 1

statement of owner's or stockholder equity is a financial statement that reports the changes that are generally reflected in the equity statement include the earned profits, dividends, inflow of equity , withdrawal of equity , net loss.

Net income = Fees earned - all expenses 

Net income = $73,390 - $1,040 - $$1,240 - $1,670 - $23,150 = $46,290 

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