Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 2, Problem 17E
To determine
Prepare the statement of owner’s equity for Company H.
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4. Prepare a statement of owner's equity using the information provided for Pirate Landing
for the month of October 2020.
Cash
14,500.00
56,000.00
7,800.00
Pirate Pete, Capital October 1
Net loss October 2020
Owner investments
1500.00
Wages payable
Supplies expense
3,250.00
750.00
Owner withdrawals
100.00
Full Book
Go to pg. 75
* AA
TOC
3-3 On Your Own
A-Z
Journalizing transactions that affect owner's equity in a general journal
Use the chart of accounts and journal from On Your Own 3-2. Work this problem
independently.
Transactions:
June
11. Paid cash for rent, $750.00. C4.
12. Sold services on account to G. Stratton,
$800.00. S1.
16. Received cash from sales, $4,300.00. T16.
17. Paid cash for postage (Miscellaneous
Expense), $37.00. C5.
19. Received cash on account from G.
Stratton, $500.00. R2.
20. Paid cash to owner as a withdrawal of
equity, $1,200.00. C6.
line of page
o Your Own 3
Journalize the transactions continuing on the next blank line of page1 of the
journal. Source documents are abbreviated as follows: check, C; receipt, R; sales
invoice, S; calculator tape, T. Save your work to complete On Your Own 3-4.
3 US
A 2:17
genow.com/ilm/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Lo
eBook
Statement of Owner's Equity Reporting Net Income
Betsy Ray started an accounting service on June 1, 20--, by investing $20,000. Her ne
Prepare a statement of owner's equity for the month of June. If an amount is zero, en
Betsy Ray's Accounting Service
Statement of Owner's Equity
For Month Ended June 30, 20--
Betsy Ray, capital, June 1, 20--
Net income for June
CengageNOWv2 | Online teachin x
Total investment
Check My Work
$20,000
10,000
$ 20,000
LO
Chapter 2 Solutions
Principles of Financial Accounting.
Ch. 2 - Amalia Company received its utility bill for the...Ch. 2 - On May 1, Mattingly Lawn Service collected 2,500...Ch. 2 - Prob. 3MCQCh. 2 - A trial balance prepared at year-end shows total...Ch. 2 - Prob. 5MCQCh. 2 - Prob. 1DQCh. 2 - What is the difference between a note payable and...Ch. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Are debits or credits typically listed first in...
Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 13DQCh. 2 - Define (a) assets, (b) liabilities, (c) equity,...Ch. 2 - Which financial statement is sometimes called the...Ch. 2 - APPLE Review the Apple balance sheet in Appendix...Ch. 2 - Prob. 17DQCh. 2 - Prob. 18DQCh. 2 - Prob. 1QSCh. 2 - Identifying financial statement accounts C2...Ch. 2 - Prob. 3QSCh. 2 - Prob. 4QSCh. 2 - Linking debit or credit with normal balance C4...Ch. 2 - Analyzing transactions and preparing journal...Ch. 2 - Prob. 7QSCh. 2 - Identifying a posting error A trial balance has...Ch. 2 - Prob. 9QSCh. 2 - Prob. 10QSCh. 2 - Prob. 11QSCh. 2 - Preparing an income statement P3 Liu Zhang...Ch. 2 - Prob. 13QSCh. 2 - Preparing a balance sheet P3 Use the information...Ch. 2 - Prob. 15QSCh. 2 - Prob. 1ECh. 2 - Identifying and classifying accounts Enter the...Ch. 2 - Identifying a ledger and chart of accounts C3...Ch. 2 - Prob. 4ECh. 2 - Analyzing effects of a compound entry A1 Groro Co....Ch. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Preparing T-accounts (ledger) and a trial balance...Ch. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - Prob. 11ECh. 2 - Analyzing and journalizing transactions involving...Ch. 2 - Prob. 13ECh. 2 - Prob. 14ECh. 2 - Prob. 15ECh. 2 - Prob. 16ECh. 2 - Prob. 17ECh. 2 - Prob. 18ECh. 2 - Prob. 19ECh. 2 - Identifying effects of posting errors on the trial...Ch. 2 - Analyzing a trial balance error You are told the...Ch. 2 - Calculating and interpreting the debt ratio A2...Ch. 2 - Prob. 23ECh. 2 - Prob. 5APCh. 2 - Prob. 6APCh. 2 - Prob. 7APCh. 2 - The accounting records of Tama Co. show the...Ch. 2 - Prob. 6BPCh. 2 - Prob. 7BPCh. 2 - Prob. 1AACh. 2 - Prob. 2AACh. 2 - GLOBAL ANALYSIS A2 Key comparative figures for...Ch. 2 - Prob. 1BTNCh. 2 - COMMUNICATING IN PRACTICE Lila Corentine is an...Ch. 2 - Prob. 3BTNCh. 2 - Prob. 5BTNCh. 2 - Prob. 6BTN
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