Marcie Davies owns and operates Gemini Advertising Services. On January 1, 2018, Marcie Davies, Capital had a
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Question:
Marcie Davies owns and operates Gemini Advertising Services. On January 1, 2018, Marcie Davies, Capital had a balance of $622,000. During the year, Marcie invested an additional $36,000 and withdrew $14,500. For the year ended December 31, 2018, Gemini Advertising Services reported a net income of $92,510. Prepare a statement of owner’s equity for the year ended December 31, 2018. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
Labels | |
December 31, 2018 | |
For the Year Ended December 31, 2018 | |
Amount Descriptions | |
Additional investment during 2018 | |
Decrease in owner’s equity | |
Increase in owner’s equity | |
Withdrawals | |
Marcie Davies, capital, January 1, 2018 | |
Marcie Davies, capital, December 31, 2018 | |
Net income | |
Net loss |
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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