Preparing the statement of owner’s equity
Rolling Hill Interiors began the year with Hill, capital of $20,000. On July 12, Dana Hill, the owner, invested $14,000 cash. The income statement for the year ended December 31, 2012, reported net income of $63,000. During this fiscal year, Hill withdrew cash of $6,000 each month.
Requirement
1. Prepare Rolling Hill Interiors’ statement of owner’s equity for the year ended December 31, 2012.
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