Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 20Y2, are as follows:Angelo Phelps, Capital Angelo Phelps, DrawingApril 303,200May 1 (20Y1)189,900 July 31800April 303,200April 3025,800 Oct. 31800 Jan. 31800 April 30800 Prepare a statement of owner's equity for the year.Masterpiece ArtsStatement of Owner's EquityFor the Year Ended April 30, 20Y2 $Angelo Phelps, capital, May 1, 20Y1 $Net loss Withdrawals Decrease in owner's equity $Angelo Phelps, capital, April 30, 20Y2

Name: Selected accounts from the ledger of Masterpiece Arts for the fiscal y
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Description: Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 20Y2, are as follows:Angelo Phelps, Capital Angelo Phelps, DrawingApril 303,200May 1 (20Y1)189,900 July 31800April 303,200April 3025,800 Oct. 31800 Jan.

The statement of owners' equity is prepared to record changes to capital of owner. The owners'…

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...

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Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 20Y2, are as follows:

Angelo Phelps, Capital		Angelo Phelps, Drawing
April 30	3,200	May 1 (20Y1)	189,900	July 31	800	April 30	3,200
April 30	25,800			Oct. 31	800
				Jan. 31	800
				April 30	800

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

Masterpiece ArtsStatement of Owner's EquityFor the Year Ended April 30, 20Y2

		$Angelo Phelps, capital, May 1, 20Y1
	$Net loss
	Withdrawals
		Decrease in owner's equity
		$Angelo Phelps, capital, April 30, 20Y2

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