Statement of Owner’s Equity The capital account for Minta's Editorial Services, including an additional investment, and a partial work sheet are shown. GENERAL LEDGER ACCOUNT Minta Berry, Capital ACCOUNT NO. 311 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 1 Balance ✔ 3,600.00 22 J1 2,900.00 6,500.00 Minta's Editorial Services Work Sheet (Partial) For Month Ended January 31, 20-- Income Statement Balance Sheet ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Cash 3,800.00 Accounts Receivable 2,200.00 Supplies 1,000.00 Prepaid Insurance 950.00 Computer Equipment 4,500.00 Accum. Depr.—Computer Equipment 225.00 Accounts Payable 2,100.00 Wages Payable 150.00 Minta Berry, Capital 6,500.00 Minta Berry, Drawing 1,700.00 Editing Fees 7,012.00 Wages Expense 600.00 Advertising Expense 49.00 Rent Expense 450.00 Supplies Expense 288.00 Phone Expense 44.00 Utilities Expense 38.00 Insurance Expense 125.00 Depr. Expense—Computer Equipment 225.00 Miscellaneous Expense 18.00 1,837.00 7,012.00 14,150.00 8,975.00 Net Income 5,175.00 5,175.00 7,012.00 7,012.00 14,150.00 14,150.00 Required: Prepare a statement of owner's equity. Minta's Editorial Services Statement of Owner's Equity For Month Ended January 31, 20--

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Statement of Owner’s Equity

The capital account for Minta's Editorial Services, including an additional investment, and a partial work sheet are shown.

GENERAL LEDGER
ACCOUNT	Minta Berry, Capital		ACCOUNT NO.	311
	BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
20--
Jan.	1	Balance	✔				3,600.00
	22		J1		2,900.00		6,500.00

Minta's Editorial Services Work Sheet (Partial) For Month Ended January 31, 20--
	Income Statement	Balance Sheet
ACCOUNT TITLE	DEBIT	CREDIT	DEBIT	CREDIT
Cash			3,800.00
Accounts Receivable			2,200.00
Supplies			1,000.00
Prepaid Insurance			950.00
Computer Equipment			4,500.00
Accum. Depr.—Computer Equipment				225.00
Accounts Payable				2,100.00
Wages Payable				150.00
Minta Berry, Capital				6,500.00
Minta Berry, Drawing			1,700.00
Editing Fees		7,012.00
Wages Expense	600.00
Advertising Expense	49.00
Rent Expense	450.00
Supplies Expense	288.00
Phone Expense	44.00
Utilities Expense	38.00
Insurance Expense	125.00
Depr. Expense—Computer Equipment	225.00
Miscellaneous Expense	18.00
	1,837.00	7,012.00	14,150.00	8,975.00
Net Income	5,175.00			5,175.00
	7,012.00	7,012.00	14,150.00	14,150.00

Required:

Prepare a statement of owner's equity.

Minta's Editorial Services

Statement of Owner's Equity

For Month Ended January 31, 20--

Depr. Expense-Computer Equipment
Miscellaneous Expense
225.00
18.00
1,837.00 7,012.00 14,150.00 8,975.00
Net Income
5,175.00
5,175.00
7,012.00 7,012.00 14,150.00 14,150.00
Required:
Prepare a statement of owner's equity.
Minta's Editorial Services
Statement of Owner's Equity
For Month Ended January 31, 20--
Cash
Investments during January
Minta Berry, Capital, January 1, 20--
Minta Berry, Capital, January 31, 20--
Net income for January
Check My Work 5 more Check My Work uses remaining.

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