Using the income statement for Ousel Travel Service shown in Practice Exercise 1-4A, prepare a statement of

Question:

Using the income statement for Ousel Travel Service shown in Practice Exercise 1-4A, prepare a statement of owner's equity for the year ended November 30, 2016. Shane Ousel, the owner, invested an additional $50,000 in the business during the year and withdrew cash of $30,000 for personal use. Shane Ousel, capital as of December 1, 2015, was $666,000.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting

ISBN: 978-1285743615

26th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

Question Posted: