Tnese finanCial statemer ems are for Sa mpany at year-end, July 31, Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300
Tnese finanCial statemer ems are for Sa mpany at year-end, July 31, Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
how do you prepare an owners equity statement?

Transcribed Image Text:Prepare an owner's equity statement for the year.
SANDHILL COMPANY
Owner's Equity Statement
$
2$
$

Transcribed Image Text:These financial statement items are for Sandhill Company at year-end, July 31, 2020.
Salaries and wages payable
$2,300
Notes payable (long-term)
$1,800
Salaries and wages expense
51,500
Cash
14,300
Utilities expense
23,000
Accounts receivable
10,400
Equipment
29,000
Accumulated depreciation-equipment
6,400
Accounts payable
4,700
Owner's drawings
3,200
Service revenue
60,800
Depreciation expense
4,300
Rent revenue
8,400
Owner's Capital (beginning of the year)
51,300
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