On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner,finalized the company's records that showed the following items.Accounts payableAccounts receivableCashComputer equipmentFurnitureBreanne Allarie, capital, June 30, 2023*Office rent expenseOwner's Investments during July 20231Owner's withdrawalsSuppliesTextbook rental revenueTutoring revenueTutors' wages expenseUtilities expenseACADEMIC LEARNING SERVICESStatement of Changes in EquityFor Month Ended July 31, 2023Breanne Allare, capital, July 1Total*Hint The ending capital balance for one period is the beginning capital balance for the next period.Use the above information to prepare a July statement of changes in equity for Academic Learning Services. (Enter all values aspositive.)Breanne Allarie, capital, July 31.$ 2,8004,6004,2004,8004,400$17,8005,1003,8003,6002,3205606,8001,80094800

Statement of change in equity is the financial statement that shows the change in the owner's equity…

On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. Accounts payable Accounts receivable Cash Computer equipment Furniture. Breanne Allarie, capital, June 30, 2023* Office rent expense Owner's Investments during July 2023 Owner's withdrawals Supplies Textbook rental revenue Tutoring revenue Tutors' wages expense Utilities expense *Hint The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July statement of changes in equity for Academic Learning Services. (Enter all values as positive.) ACADEMIC LEARNING SERVICES Statement of Changes in Equity For Month Ended July 31, 2023 Breanne Allane, capital, July 1 Total Breanne Allarie, capital, July 31. $2,800 4,600 4,200 4,800 $ 4,400 17,800 5,100 3,800 3,600 2,320 560 6,800 1,800 940 0 0

On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. Accounts payable Accounts receivable Cash Computer equipment Furniture. Breanne Allarie, capital, June 30, 2023* Office rent expense Owner's Investments during July 2023 Owner's withdrawals Supplies Textbook rental revenue Tutoring revenue Tutors' wages expense Utilities expense *Hint The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July statement of changes in equity for Academic Learning Services. (Enter all values as positive.) ACADEMIC LEARNING SERVICES Statement of Changes in Equity For Month Ended July 31, 2023 Breanne Allane, capital, July 1 Total Breanne Allarie, capital, July 31. $2,800 4,600 4,200 4,800 $ 4,400 17,800 5,100 3,800 3,600 2,320 560 6,800 1,800 940 0 0

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

On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner,
finalized the company's records that showed the following items.
Accounts payable
Accounts receivable
Cash
Computer equipment
Furniture
Breanne Allarie, capital, June 30, 2023*
Office rent expense
Owner's Investments during July 20231
Owner's withdrawals
Supplies
Textbook rental revenue
Tutoring revenue
Tutors' wages expense
Utilities expense
ACADEMIC LEARNING SERVICES
Statement of Changes in Equity
For Month Ended July 31, 2023
Breanne Allare, capital, July 1
Total
*Hint The ending capital balance for one period is the beginning capital balance for the next period.
Use the above information to prepare a July statement of changes in equity for Academic Learning Services. (Enter all values as
positive.)
Breanne Allarie, capital, July 31.
$ 2,800
4,600
4,200
4,800
4,400
$
17,800
5,100
3,800
3,600
2,320
560
6,800
1,800
948
0
0

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