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Financial information related to Pegasus Products Company, a proprietorship, for the month ended April 30, 20Y7, is as follows: Net

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Financial information related to Pegasus Products Company, a proprietorship, for the month ended April 30, 20Y7, is as follows:

Net income for April ...............................................................    $161,000 

Brian Walinsky's withdrawals during April ..........................        24,000 

Brian Walinsky's capital, April 1, 2017 ..................................     373,000

a. Prepare a statement of owner’s equity for the month ended April 30, 20Y7.
b. Why is the statement of owner’s equity prepared before the April 30, 20Y7, balance sheet?

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Soji is currently a State Auditor in the National Government Sector 7 of the Commission on Audit - Regional Office No. I based in the City of San Fernando, La Union – the supreme audit institution of the Republic of the Philippines. He was a former Audit Associate of Reyes Tacandong & Co - member of the RSM Network. He joined RT&Co. in November 2014 immediately after passing the Certified Public Accountant Licensure Exam (CPALE) in October 2014. He holds a degree in Bachelor of Science in Accountancy from PHINMA University of Pangasinan and graduated Cum Laude with a GWA of 1.567. He also holds a master's degree in Business Administration from the same university. He has over six years of in-depth experience in the audit of government agencies in the field of public works, transport, and energy. He has had extensive training provided by the Commission to ensure accountability for public resources, promote transparency, and help improve government operations for the benefit of the Filipino people. As a tutor, he loves to teach his classmates during college days. He has been the go-to person of his classmates for complicated accounting problems because he can explain the concepts in simpler and more understandable terms, and also has tips and tricks to solve some problems faster. He also has experience tutoring online thru the online platform Zwerl / Sphere. He is also a lover of Mathematics. In fact, he got a numerical grade of 1.00 in his mathematics subject in college.
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Accounting

Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Details
Chapter # 1- Introduction to Accounting and Business.
Section: EXERCISE
Problem: 18
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Question Posted: April 05, 2021 02:43:56
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