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The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this...

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.
SAWYER ARCHITECTURE SERVICES
Statement of Owner's Equity
Month Ended June 30, 2019
0
$0

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Expert Solution

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

ekkarill92 answered 1 year ago
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