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Question E1-32
E1-32 Preparing the statement of owners equity Learning Objective 5 Requirements 1. Prepare the statement of owners equity for Wilson Towing Service for the month Ending Capital $22,450 ending June 30, 2018. Assume Wilson contributed $11,000 during June. 2. What does the statement of owners equity report?
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Answer #1

statement of owners equity

Common stock

11000

retained earning

0

Year end balance in shareholders equity

11000

Statement of owners equity explains the availability of stockholders funds in the company. It explains how much of funds common stockholders and preferred stock holders have invested and how much of free profits, are earned on invested capital
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