In: Accounting
The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $67,500 (Transaction 1).
Assets | = | Liab. | + | Owner's Equity | ||||||||||||
Transaction | Cash | Accts. Rec. |
Supp. | Equip. | Accts. Pay. |
G. Sawyer, Capital |
Rev. | Exp. | ||||||||
1 | +67,500 | +67,500 | ||||||||||||||
2 | − 7,300 | +7,300 | ||||||||||||||
3 | +4,300 | +4,300 | ||||||||||||||
4 | +2,780 | +2,780 | ||||||||||||||
5 | −3,050 | −3,050 | ||||||||||||||
6 | + 580 | −580 | ||||||||||||||
7 | −1,500 | −1,500 | ||||||||||||||
8 | −360 | +360 | ||||||||||||||
Bal | 55,870 | + | 3,720 | + | 360 | + | 10,080 | = | 2,780 | + | 66,000 | + | 4,300 | − | 3,050 | |
Prepare the statement of owner's equity for Sawyer Architecture
Services for the month ended June 30, 2019.
|
STATEMENT OF OWNER'S EQUITY | ||
Greg Sawyer, Capital, June 1, 2019 | $ 67,500 | |
Add: Net income for June [4300-3050] | $ 1,250 | |
Less: Drawings during June | $ 1,500 | |
Decrease in capital | $ -250 | |
Greg Sawyer, Capital, June 30, 2019 | $ 67,250 |