Question: Prepare the statement of owner's equity for Damon Design Studio for the year ending December 31, 2018? The assets, liabilities, and equities of Damon Design
Prepare the statement of owner's equity for Damon Design Studio for the year ending December 31, 2018?
The assets, liabilities, and equities of Damon Design Studio have the following balances at December 31, 2018. The owner, Eric Damon, began the year with a $39,000 capital balance, contributed $13,000, and withdrew $57,000 during the year.
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$ 14,000 Office Furniture 23,000 Utilities Expense 3,200 Accounts Payable 5,100 Service Revenue 65,000 Accounts Receivable 2,200 Miscellaneous Expense Notes Payable Rent Expense Cash $ 48,400 7,200 3,600 Office Supplies Salaries Expense Property Tax Expense 154,600 9,300 3,800
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