Selected T accounts appear below for the current year for Linda\'s Surveying Ser

Question

Selected T accounts appear below for the current year for Linda's Surveying Services.

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Labels and Amount Descriptions

Statement of Owner’s Equity

Prepare a statement of owner's equity. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. If a net loss is incurred or there is a decrease in owner’s equity, enter that amount as a negative number using a minus sign.

Linda's Surveying Services

Statement of Owner’s Equity

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Explanation / Answer

Statement of Owners Equity Amount $ Linda Winter, Capital , january 1 20000 Add: Net Income 48000 Less: Withdrawls -25000 Net Increase in Owner's Equity 23000 Linda Winter, Capital , December 31 43000

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