Zoe Backus owns and operates Backus Advertising Services. On January 1, 20Y3, Zoe Backus, Capital had a balance of $157,450. During the year, Zoe invested an additional $7,900 and withdrew $55,100. For the year ended December 31, 20Y3, Backus Advertising Services reported a net income of $43,000. Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values. Backus Advertising ServicesStatement of Owner's EquityFor the Year Ended December 31, 20Y3 $Zoe Backus, capital, January 1, 20Y3 $Additional investment during 20Y3 Net income Withdrawals Increase in owner's equity $Zoe Backus, capital, December 31, 20Y3
Zoe Backus owns and operates Backus Advertising Services. On January 1, 20Y3, Zoe Backus, Capital had a balance of $157,450. During the year, Zoe invested an additional $7,900 and withdrew $55,100. For the year ended December 31, 20Y3, Backus Advertising Services reported a net income of $43,000. Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values. Backus Advertising ServicesStatement of Owner's EquityFor the Year Ended December 31, 20Y3 $Zoe Backus, capital, January 1, 20Y3 $Additional investment during 20Y3 Net income Withdrawals Increase in owner's equity $Zoe Backus, capital, December 31, 20Y3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Zoe Backus owns and operates Backus Advertising Services. On January 1, 20Y3, Zoe Backus, Capital had a balance of $157,450. During the year, Zoe invested an additional $7,900 and withdrew $55,100. For the year ended December 31, 20Y3, Backus Advertising Services reported a net income of $43,000.
Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values.
Backus Advertising ServicesStatement of Owner's EquityFor the Year Ended December 31, 20Y3
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$Zoe Backus, capital, January 1, 20Y3 | |
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|
$Additional investment during 20Y3 | |
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|
Net income | |
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Withdrawals | |
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Increase in owner's equity | |
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$Zoe Backus, capital, December 31, 20Y3 |
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