Homework: Chapter 1 Homework Assignment Score: 0 of 10 pts S1-13 (book/static) H

Question

Homework: Chapter 1 Homework Assignment Score: 0 of 10 pts S1-13 (book/static) HW Score: 12.81 1,2018 is the third year of operations for the company The olowing data have been (Click the icon to view the assembled data ) (Click the icon to view the income statement) Enter any n capital prior to the sublotal and any Salaries Expense $ 46000 Service Revenue Utiities Expense Rent Expe Righ Capital Jn 12018 0,000 Accounts Payable 1400 Ofice Supplies 16,000 Right Withdrawals 9000 Accourts Receivable 7 200 Equipment 100 800 12 100

Explanation / Answer

Centerpiece Arrangements

Statement of Owner's Equity

Year Ended December 31, 2018

Net income = service revenue - insurance expense - Utilities expense - rent expense = 70000-4500-1400-16000 = 48100

Right Capital, January 1, 2018 9000 Owner contribution 5100 Net income 48100 62200 Owner withdrawals (4800) Right Capital, December 31, 2018 57400

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