Prepare the statement of owners equity

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Reference no: EM132317319

Question :

Prepare the Statement of Owner's Equity from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending capital for the month. Enter any decreases using a minus sign or parentheses.

SMART TOUCH LEARNING
Adjusted Trial Balance
December 31, 2016
  Balance

Account Title

Debit       

Credit

Casts

14,900

 

Accocas Receivable

8,200

 

Office Supplies

100

 

Prepaid Rent

9,900

 

Furniture

17,400

 

Accumulated Depreciation-Furniture

 

5,900

Accounts Payable

 

1,900

&Aerie's Payable

 

400

',serest Payable

 

200

Unearned Revenue

 

4,900

Notes Payable

 

6,900

13n9,14. Capital

 

19,700

Bright. Withdrawals

25,800

 

Service Revenue

 

45,500

Depreciation Expense-Furniture

1,900

 

interest Expense

200

 

Rem Expense

2,900

 

Salaries Expense

3,400

 

Supplies Expense

700

 

Total

85,400

85,400

 

SMART TOUCH LEARNING
Income Statement
Month Ended December 31, 2016
Revenue:    
Service Revenue:   45,500

Expenses:

 

 

Depreadoon Expense -.Furniture

1900

 

Interest Expense

200

 

Rent Expense

2,900

 

Salaries Expense

3,400

 

Supplies Expense

700

 

Total Expenses

 

9,100

Net Income

 

36,400

Reference no: EM132317319

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