Derby Advertising Services
Statement of Owner’s Equity
For the Year Ended December 31, 2018
Judy Flint, capital, January 1, 2018 | $238,100 | |
Additional investment during 2018 | $11,900 | |
Net income | $113,300 | |
Withdrawals | $83,300 | |
Increase in owner’s equity | $41,900 | |
Judy Flint, capital, December 31, 2018 | $280,000 |
Statement of Owner's Equity Judy Flint owns and operates Derby Advertising Services. On January 1, 2018,...
Retained Earnings Statement Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Retained Earnings had a balance of $274,700. During the year, Judy invested an additional $60,400 in exchange for common stock and $35,700 in dividends were paid. For the year ended December 31, 2018, Derby Advertising Services reported a net income of $44,600. Prepare a retained earnings statement for the year ended December 31, 2018. Derby Advertising Services Retained Earnings Statement For the Year Ended December...
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Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December 31, 2018 Retained...
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