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Show Me How Calculator mework eBook al statements Labels and Amount Descriptions Income Statement Statement of Owners ctions nce Sheet ement of Owners Equity Score: 43/31 Nordic Travel Agency Statement of Owners Equity For the Year Ended December 31, 2019 lan Eisele, capital, January 1, 2019 $670,000.00 Net income for the year 327,500.00 42,0000 Increase in owners equity lan Eisele, capital, December 31, 2019 nt Score: 82.16% All work saved. SAMSUNG
What is the increase in owners equity and what is the capital ?
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Answer #1

Increase in Owner's equity = Net income - withdrawal

=$327500-$42000

=$285500

Capital on December 31,2019 = Capital on January 1,2019 + Increase in equity

= $670000+ $285500

= $955500

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