The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were madeduring the period.Accounts301 Bridget Swanson, Capital302 Bridget Swanson, Drawing$63,360 Cr.40,500 Dr.Net income for the year $43,115.Prepare a statement of owner's equity for the year ended December 31, 20X1.BRIDGET'S OFFICE SUPPLIESStatement of Owner's Equity Exercise 13.4 (Algo) Preparing a statement of owner's equity. LO 13-2The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventoryamounted to $59,375 on January 1, 20X1, and $52,325 on December 31, 20X1, The expense accounts numbered 611 through 617represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.Accounts401 Sales451 Sales returna and allowances$246,800 Cr.4,310 Dr.360 Cr.103,200 Dr.491 Miscellaneoun income501 Purchanes502 Freight in503 Purchases returns and allowances504 Purchases discounts611 Salarien expense-Sales614 Store nupplies expense617 Depreciation expense-Store equipment631 Rent expense634 Utilities expense637 Salaries expense-office640 Payroll taxes expense643 Depreciation expense-office equipment646 Uncollectible accounta expense691 Interest expense1,935 Dr.3,560 Cr.1,760 Cr.44,900 Dr.2,270 Dr.1,470 Dr.13,100 Dr.2,960 Dr.20,700 Dr.5,600 Dr.530 Dr.680 Dr.660 Dr.The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were madeduring the period.Accounts301 Bridget Swanson, Capital302 Bridget Svanson, Drawing$63,360 Cr.40,500 Dr.Net income for the year $43,115.

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Description: The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were madeduring the period.Accounts301 Bridget Swanson, Capital302 Bridget Swanson, Drawing$63,360 Cr.40,500 Dr.Net income for the y

Statements of owners' equity indicate the summary of the shareholder's equity. It is a part of…

Business

Accounting

The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were made during the period. Accounts 301 Bridget Svanson, Capital 302 Bridget Svanson, Drawing $63,360 Cr. 40,500 Dr. Net income for the year $43,115. Prepare a statement of owner's equity for the year ended December 31, 20X1. BRIDGET'S OFFICE SUPPLIES Statement of Owner's Equity

The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were made during the period. Accounts 301 Bridget Svanson, Capital 302 Bridget Svanson, Drawing $63,360 Cr. 40,500 Dr. Net income for the year $43,115. Prepare a statement of owner's equity for the year ended December 31, 20X1. BRIDGET'S OFFICE SUPPLIES Statement of Owner's Equity

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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Concept explainers

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

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Question

The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were made
during the period.
Accounts
301 Bridget Swanson, Capital
302 Bridget Swanson, Drawing
$63,360 Cr.
40,500 Dr.
Net income for the year $43,115.
Prepare a statement of owner's equity for the year ended December 31, 20X1.
BRIDGET'S OFFICE SUPPLIES
Statement of Owner's Equity

Exercise 13.4 (Algo) Preparing a statement of owner's equity. LO 13-2
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory
amounted to $59,375 on January 1, 20X1, and $52,325 on December 31, 20X1, The expense accounts numbered 611 through 617
represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.
Accounts
401 Sales
451 Sales returna and allowances
$246,800 Cr.
4,310 Dr.
360 Cr.
103,200 Dr.
491 Miscellaneoun income
501 Purchanes
502 Freight in
503 Purchases returns and allowances
504 Purchases discounts
611 Salarien expense-Sales
614 Store nupplies expense
617 Depreciation expense-Store equipment
631 Rent expense
634 Utilities expense
637 Salaries expense-office
640 Payroll taxes expense
643 Depreciation expense-office equipment
646 Uncollectible accounta expense
691 Interest expense
1,935 Dr.
3,560 Cr.
1,760 Cr.
44,900 Dr.
2,270 Dr.
1,470 Dr.
13,100 Dr.
2,960 Dr.
20,700 Dr.
5,600 Dr.
530 Dr.
680 Dr.
660 Dr.
The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were made
during the period.
Accounts
301 Bridget Swanson, Capital
302 Bridget Svanson, Drawing
$63,360 Cr.
40,500 Dr.
Net income for the year $43,115.

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