Question
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 $68,000 (Transaction 1).
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 $68,000 (Transaction 1).
| Assets | = | Liab. | + | Owner's Equity | ||||||||||||
| Transaction | Cash | Accts. Rec. | Supp. | Equip. | Accts. Pay. | G. Sawyer, Capital | Rev. | Exp. | ||||||||
| 1 | +68,000 | +68,000 | ||||||||||||||
| 2 | − 7,400 | +7,400 | ||||||||||||||
| 3 | +4,400 | +4,400 | ||||||||||||||
| 4 | +2,880 | +2,880 | ||||||||||||||
| 5 | −3,100 | −3,100 | ||||||||||||||
| 6 | + 590 | −590 | ||||||||||||||
| 7 | −1,600 | −1,600 | ||||||||||||||
| 8 | −370 | +370 | ||||||||||||||
| Bal | 56,120 | + | 3,810 | + | 370 | + | 10,280 | = | 2,880 | + | 66,400 | + | 4,400 | − | 3,100 | |
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 | ||
Solutions
Expert Solution
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 | ||
| Beginning owner's equity | 68000 | |
| Add: Net income | 1300 | |
| Less: Owner's withdrawal | -1600 | |
| -300 | ||
| Ending Owner's equity | $67700 | |
ekkarill92 answered 1 year agoRelated Solutions
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
+...
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