The revenues and expenses of Zenith Travel Service for the year ended August 31, 20Y4, follow: Fees earned Office expense Miscellaneous expense Wages expense Prepare a statement of owner's equity for the year ended August 31, 20Y4. Megan Cox, the owner, invested an additional $43,200 in the business during the year and withdrew cash of $21,600 for personal use. Megan Cox, capital as of September 1, 20Y3, was $456,000. Zenith Travel Service Statement of Owner's Equity For the Year Ended August 31, 2014 X X $899,600 353,800 14,400 539,800 X X X X
The revenues and expenses of Zenith Travel Service for the year ended August 31, 20Y4, follow: Fees earned Office expense Miscellaneous expense Wages expense Prepare a statement of owner's equity for the year ended August 31, 20Y4. Megan Cox, the owner, invested an additional $43,200 in the business during the year and withdrew cash of $21,600 for personal use. Megan Cox, capital as of September 1, 20Y3, was $456,000. Zenith Travel Service Statement of Owner's Equity For the Year Ended August 31, 2014 X X $899,600 353,800 14,400 539,800 X X X X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Done
<
<
Fees earned
Office expense
Statement of Owner's Equity
The revenues and expenses of Zenith Travel Service for the
year ended August 31, 20Y4, follow:
Miscellaneous expense
Wages expense
A v2.cengagenow.com
X
X
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Prepare a statement of owner's equity for the year ended
August 31, 20Y4. Megan Cox, the owner, invested an
additional $43,200 in the business during the year and
withdrew cash of $21,600 for personal use. Megan Cox,
capital as of September 1, 20Y3, was $456,000.
Zenith Travel Service
Statement of Owner's Equity
For the Year Ended August
31, 20Y4
$
$899,600
353,800
14,400
539,800
X
X
X
AA C
X
✓ Check My Work
Follow Example Exercise 1-5. Recall that the statement of owner's equity considers additional
investments of the owner, net income and withdrawals to calculate the ending capital.
m
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