Statement Of Owner's Equity Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following balances for April transactions. Cash $13,466 Accounts Receivable 2,028 Office Supplies 4,718 Prepaid Insurance 1,236     Accounts Payable 281 Jay Pembroke, Capital 18,760 Jay Pembroke, Drawing 131 Service Fees 3,336 Rent Expense 798 You will need to calculate the net income for April.   Statement of Owner's Equity     Statement Of Owner's Equity Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity for April transactions. If an amount is zero, enter "0". Jay Pembroke Statement of Owner's Equity For Month Ended April 30, 20xx Jay Pembroke, capital, April 1, 20xx    $fill in the blank 6a98780e504003a_2 Investment during April    fill in the blank 6a98780e504003a_4 Total investment   $fill in the blank 6a98780e504003a_5 Net income for April  $fill in the blank 6a98780e504003a_7   Less withdrawals for April  fill in the blank 6a98780e504003a_9   Increase in capital    fill in the blank 6a98780e504003a_11 Jay Pembroke, capital, April 30, 20xx    $fill in the blank 6a98780e504003a_13

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is