Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2019, are as followsPrepare a statement of owner’s equity for the year. Doug Stone, Capital31,200 May 1 (2018)Doug Stone, Drawing1,250 Apr. 30Аpг. 30475,500Sept. 305,000305,000Dec. 311,250Mar. 311,250June 301,250

Formula: Ending capital = Beginning capital - Net loss - Withdrawals.

Answered: Doug Stone, Capital 31,200 May 1 (2018)…

Doug Stone, Capital 31,200 May 1 (2018) Doug Stone, Drawing 1,250 Apr. 30 Аpг. 30 475,500 Sept. 30 5,000 30 5,000 Dec. 31 1,250 Mar. 31 1,250 June 30 1,250

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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Question

Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2019, are as follows

Prepare a statement of owner’s equity for the year.

Doug Stone, Capital
31,200 May 1 (2018)
Doug Stone, Drawing
1,250 Apr. 30
Аpг. 30
475,500
Sept. 30
5,000
30
5,000
Dec. 31
1,250
Mar. 31
1,250
June 30
1,250

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