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Statement of owners equity.

Trying to prepare a statement of owners equity.
beginnin
Assets 50,000
Liabilities 20,000
Ending
Assets 70,000
Liabilities 35,000

Owners equity
Investments 0
withdrawals by owner 40,000

Income statement
Revenues 230,000
Expense ?

DID this company earn a net income or suffer a net loss?

Solution Preview

Hello,
Begining owners Equity=Assets-Liability=50000-20000=30000
Ending Owners Equity=70000-35000=35000

Statment of owner's equity
Begining owners ...

Solution Summary

Solution contains statement of owners equity.

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