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
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
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 3PA: Forte Inc. produces and sells theater set designs and costumes. The company began operations on...
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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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