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Prepare an owners equity statement for elegant cosmetics

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Reference no: EM131537446

Question: Preparing an owners' equity statement (net loss) Judy Fulton and Lee Terry are partners in a merchandising business, Elegant Cosmetics. Forms for completing this problem are given in the Working Papers. The following information was taken from the records on December 31 of the current year.

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Instructions: 1. Prepare an owners' equity statement for Elegant Cosmetics. Additional investments made during the year: Judy Fulton, $12,000.00; Lee Terry, $10,000.00.

Reference no: EM131537446

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