boe420
Jan 2, 2014, 08:52 AM
Do not understand this. Can anybody help create owner's equity statement?
CARLOS COMPANY
Worksheet
For the Year Ended December 31, 2012
Income Statement
Balance Sheet
Account
No.
Account Titles
Dr.
Cr.
Dr.
Cr.
101 Cash 6,200
112 Accounts Receivable 7,500
130 Prepaid Insurance 1,800
157 Equipment 33,000
167 Accumulated Depreciation—Equip. 8,600
201 Accounts Payable 11,700
212 Salaries and Wages Payable 3,000
301 Owner’s Capital 34,000
306 Owner’s Drawings 7,200
400 Service Revenue 46,000
622 Maintenance and Repairs Expense 4,400
711 Depreciation Expense 2,800
722 Insurance Expense 1,200
726 Salaries and Wages Expense 35,200
732 Utilities Expense
4,000
Totals
47,600 46,000 55,700 57,300
Net Loss
1,600
1,600
47,600
47,600
57,300
57,300
Prepare owner’s equity statement. B. Carlos made an additional investment in the business of $4,000 during 2012.
CARLOS COMPANY
Worksheet
For the Year Ended December 31, 2012
Income Statement
Balance Sheet
Account
No.
Account Titles
Dr.
Cr.
Dr.
Cr.
101 Cash 6,200
112 Accounts Receivable 7,500
130 Prepaid Insurance 1,800
157 Equipment 33,000
167 Accumulated Depreciation—Equip. 8,600
201 Accounts Payable 11,700
212 Salaries and Wages Payable 3,000
301 Owner’s Capital 34,000
306 Owner’s Drawings 7,200
400 Service Revenue 46,000
622 Maintenance and Repairs Expense 4,400
711 Depreciation Expense 2,800
722 Insurance Expense 1,200
726 Salaries and Wages Expense 35,200
732 Utilities Expense
4,000
Totals
47,600 46,000 55,700 57,300
Net Loss
1,600
1,600
47,600
47,600
57,300
57,300
Prepare owner’s equity statement. B. Carlos made an additional investment in the business of $4,000 during 2012.