The account balances and income statement of Willard Towing Service at June 30, 2018, follow: E (Click the icon to view the account balances.) (Click the icon to view the June income statement.) Read the requirements. Data Table Requirement 1. Prepare the statement of owner's equity for Willard Towing Service for the month ending June 30, 2018. Assu Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. Willard Towing Service 23,950 Service Revenue 14,000 Equipment Statement of Owner's Equity Office Supplies 1,300 Accounts Receivable 7,000 Month Ended June 30, 2018 Notes Payable 6,000 Accounts Payable 6,000 Willard, Capital, June 1, 2018 %24 3,500 Willard, Capital, June 1, 2018 3,500 Rent Expense 550 Owner contribution 1,500 Salaries Expense 2,200 Cash 14000 Net income for the month Willard, Withdrawals 4,500 (4,500) Owner withdrawal Print Done 13000 Willard, Capital, June 30, 2018

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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The account balances and income statement of Willard Towing Service at June 30, 2018, follow:
(Click the icon to view the account balances.)
(Click the icon to view the June income statement.)
Read the requirements.
i
Data Table
Requirement 1. Prepare the statement of owner's equity for Willard Towing Service for the month ending June 30, 2018. Assur
Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal.
Willard Towing Service
23,950
Service Revenue
2$
14,000
Equipment
Statement of Owner's Equity
Office Supplies
1,300
Accounts Receivable
7,000
Month Ended June 30, 2018
Notes Payable
6,000
Accounts Payable
6,000
Willard, Capital, June 1, 2018
3,500
Rent Expense
550
Willard, Capital, June 1, 2018
3,500
Owner contribution
Cash
1,500
Salaries Expense
2,200
14000
Net income for the month
Willard, Withdrawals
4,500
(4,500)
Print
Done
Owner withdrawal
13000
Willard, Capital, June 30, 2018
%24
Transcribed Image Text:The account balances and income statement of Willard Towing Service at June 30, 2018, follow: (Click the icon to view the account balances.) (Click the icon to view the June income statement.) Read the requirements. i Data Table Requirement 1. Prepare the statement of owner's equity for Willard Towing Service for the month ending June 30, 2018. Assur Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. Willard Towing Service 23,950 Service Revenue 2$ 14,000 Equipment Statement of Owner's Equity Office Supplies 1,300 Accounts Receivable 7,000 Month Ended June 30, 2018 Notes Payable 6,000 Accounts Payable 6,000 Willard, Capital, June 1, 2018 3,500 Rent Expense 550 Willard, Capital, June 1, 2018 3,500 Owner contribution Cash 1,500 Salaries Expense 2,200 14000 Net income for the month Willard, Withdrawals 4,500 (4,500) Print Done Owner withdrawal 13000 Willard, Capital, June 30, 2018 %24
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