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Case Study - Statement of Changes in Owner Equity

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Question - Case Study: Statement of Changes in Owner's Equity

Calculate missing information on a statement of changes in owner's equity that is being prepared for a hypothetical business.

Statement of Changes in Owner's Equity Beginning Balance ?

Net Income $22,000

Drawings $1,500

Ending Balance $76,500

What is the total beginning balance in the statement of changes in owner's equity that Tyler drafted for his shoe store, shown here?

a) $20,500

b) $56,000

c) $23,500

d) $53,000

Reference no: EM132595227

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