Question

I all of a sudden starting drawing a blank and cannot remember how to complete Statement of Owner's Equity.

Prove your mastery! Your results will report to the gradebook. If you are not ready to submit work for a grade, you can try activities again or attempt the Practice Mastery. Your work will be saved as you work through each part. Using the Adjusted Trial Balance, complete the Income Statement, Statement of Owner's Equity, and Balance Sheet. Enter any decreases with a minus sign or parentheses SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 SMART TOUCH LEARNING SMART TOUCH LEARNING Income Statement Statement of Owner's Equity Account Title Debit Credit Month Ended December 31, 2016 Month Ended December 31, 2016 16,100 Bright, Capital, December 1, 2016 Accounts Receivable 8,900 Service Revenue 48800 Net income for the month Office Supplies 200 Prepaid Rent 10,700 2100 Owner withdrawal 18,800 Interest Expense Rent Expense Salaries Expense Supplies Expense 300 Bright, Capital, December 31, 2016 Accounts Payable Salaries Payable Interest Payable 2,100 3700 S00 800 300 Total Expenses 10100 Unearned Revenue Net Income 38700 Notes Payable Bright, Capital Bright, Withdrawals 7,500 21,300 27,400 Service Revenue 48,800 2,100 Interest Expense Rent Expense Salaries Expense Supplies Expense Total 300 3,700 800 92,200 92,200

Answer 1

SMART TOUCH LEARNING Statement of owner's Equity Month ended December 31, 2016 Bright Capital December 1, 2016 21,300.00 38,700.00 60,000.00 27,400.00 32,600.00 Net Income for the Month Owner Withdrawal Bright Capital December 31, 2016