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Question Content Area
Statement of Owner's Equity
1. From the partial work sheet, prepare a
statement of owner's equity, assuming no additional investment was
made by the owner.
1. From the partial work sheet, prepare a
statement of owner's equity, assuming no additional investment was
made by the owner.
CashEd Major, capital, January 1, 20---Increase in
capitalInvestments for JanuaryNet income for January
CashEd Major, capital, January 1, 20--Ed Major, capital, January
31, 20--Less increase in capitalLess withdrawals for January
Decrease in capitalIncrease in capital
Balance Sheet
1. From the partial work sheet, prepare a
balance sheet.
1. From the partial work sheet, prepare a
balance sheet.
Accounts payableCashEd Major, CapitalRent expenseTelephone
expenseWages payable
Accounts payableAccounts receivableAdvising feesEd Major,
CapitalEd Major, DrawingSupplies expense
Accounts payableEd Major, CapitalGas and oil expenseInsurance
expenseSuppliesWages payable
Advertising expenseAdvising feesDepr. Expense- office
equipmentEd Major, DrawingPrepaid insuranceWages payable
Advising feesEd Major, DrawingElectricity expenseGas and oil
expenseOffice equipmentWages payable
Less Accounts payableLess Accumulated depreciationLess Ed Major,
CapitalLess Ed Major, DrawingLess Insurance expenseLess Wages
payable
Accounts payableAccounts receivableAccumulated
depreciationCashEd Major, CapitalOffice equipment
Accumulated depreciationCashEd Major, DrawingPrepaid
insuranceSuppliesWages payable
Accounts payableAdvising feesEd Major, CapitalEd Major,
DrawingOffice equipmentPrepaid insurance