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statement of owner's equity

statement of owner's equity

FINANCIAL ACCOUNTING
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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9 Mc Graw Hill [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $1,300 cash during the year. Cash Accounts receivable Supplies Equipment Accounts payable Armani, Capital, December 31, prior year Armani, Capital, December 31, current year Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses Problem 1-4A (Algo) Preparing a statement of owner's equity LO P2 Required: Prepare the statement of owner's equity for Armani Company for the current year ended December 31 ARMANI COMPANY Statement of Owner's Equity For Current Year Ended December 31 $ Armani, Capital, December 31, prior year Add: Investments by owner Add: Net income Add: Net loss Add: Withdrawals by owner $ 11.600 11,600 $ 10,300 9,300 6,300 5,300 11,600 16,300 19,600 13,300 33,600 22,600 20,300 12,300 8,300 11,600 4
Transcribed Image Text:9 Mc Graw Hill [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $1,300 cash during the year. Cash Accounts receivable Supplies Equipment Accounts payable Armani, Capital, December 31, prior year Armani, Capital, December 31, current year Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses Problem 1-4A (Algo) Preparing a statement of owner's equity LO P2 Required: Prepare the statement of owner's equity for Armani Company for the current year ended December 31 ARMANI COMPANY Statement of Owner's Equity For Current Year Ended December 31 $ Armani, Capital, December 31, prior year Add: Investments by owner Add: Net income Add: Net loss Add: Withdrawals by owner $ 11.600 11,600 $ 10,300 9,300 6,300 5,300 11,600 16,300 19,600 13,300 33,600 22,600 20,300 12,300 8,300 11,600 4
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