Statement of Owner's Equity; Net Loss Selected accounts from the ledger of Restoration Arts for the...
Statement of Owner's Equity; Net Loss
Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2019, are as follows:
| Doug Stone, Capital | Doug Stone, Drawing | |||||||
|---|---|---|---|---|---|---|---|---|
| April 30 | 4,400 | May 1 (2018) | 261,300 | July 31 | 1,100 | April 30 | 4,400 | |
| April 30 | 35,500 | Oct. 31 | 1,100 | |||||
| Jan. 31 | 1,100 | |||||||
| April 30 | 1,100 | |||||||
Prepare a statement of owner's equity for the year.
| Restoration Arts | ||
| Statement of Owner's Equity | ||
| For the Year Ended April 30, 2019 | ||
| $ | ||
| $ | ||
| $ | ||
Homework Answers
Answer:
| Restoration Arts | |
| Statement of Owner's Equity | |
| For the year Ended April 30, 2019 | |
| Doug Stone Capital as May 1,2018 | $261,300 |
| Add: Investment by Owner | - |
| Net Loss | ($35,500) |
| $225,800 | |
| Less: Withdrawals by owner | ($4,400) |
| Doug Stone Capital as April 30,2019 | $221,400 |
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Statement of Owner's Equity; Net Loss
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