[tnbedroomeyes]

All I am trying to find out is if I did this right.

The following information is taken from the work sheet for Wayman Company as of December 31, 2005. Using this information, determine the amount for K. Wayman, Capital, that should be reported on its December 31,2005, balance sheet.


Income Statement Balance Sheet and
Statement of
Owner’s Equity
Dr. Cr. Dr. Cr.
K. Wayman, Capital 65,000
K. Wayman, Withdrawals 32,000
Totals 115,000 174,000

Answer:

WAYMAN COMPANY
Statement of Owner’s Equity
For month ending December 31, 2005

K.Wayman, Capital, December 1 65,000
Add Investment by owner 0
Net Income 59,000
59,000
124,000
Less Withdrawals by Owner 32,000
K. Wayman, Capital, December 31 92,000

[morgaine300]

Income Statement Balance Sheet and
Statement of
Owner’s Equity
Dr. Cr. Dr. Cr.
K. Wayman, Capital 65,000
K. Wayman, Withdrawals 32,000
Totals 115,000 174,000

You need to re-write this in a way that makes sense. It might have made some kind of sense when you typed it, but look what it does when it posts. You can't do columns.