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Presented below is information related to the sole proprietorship of Susan Wilson, attorney.

Presented below is information related to the sole proprietorship of Susan Wilson, attorney.

Legal service revenue—2020
$337,000
Total expenses—2020
207,000
Assets, January 1, 2020
93,000
Liabilities, January 1, 2020
54,000
Assets, December 31, 2020
170,000
Liabilities, December 31, 2020
105,000
Drawings—2020
?


Prepare the 2020 owner’s equity statement for Susan Wilson’s legal practice. (List items that increase owner's equity first.)

SUSAN WILSON, ATTORNEY
Owner’s Equity Statement

Entry field with correct answer For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020

Entry field with correct answer DrawingsExpensesNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments

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Entry field with correct answer DrawingsExpensesNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments

Entry field with correct answer


Entry field with correct answer

Entry field with correct answer AddLess

:

Entry field with correct answer DrawingsExpensesNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments

Entry field with incorrect answer now contains modified data

Entry field with correct answer DrawingsExpensesNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal RevenuesInvestments

$

Entry field with incorrect answer



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