Question: Can you please tell me if I got this statement of owner's equity filled in correctly? It is for practice on my study guide. Guy

Can you please tell me if I got this statement of owner's equity filled in correctly? It is for practice on my study guide.

Guy Mckinley started the Mckinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the following information. Equipment $ 23,500 Rent Expense $ 6,060 Accounts Receivable 2,500 Cash 7, 100 Fees Income 32,750 Salaries Expense 11,900 Boats 102,500 Utilities Expense 2, 506 Gasoline Expense 8,700 Supplies 4,700 Loans Payable 81,000 Initial Investment 50, 500 Owners' Withdrawal 3, 150 Accounts Payable 8,300 Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2019. Complete this question by entering your answers in the tabs below. Income Stmt of Statement Owners Eqty Balance Sheet :Prepare a statement of owner's equity for the month of August 31, 2019 MCKINLEY CHARTER SERVICE Statement of Owner's Equity Month Ended August 31, 2019 Guy Mckinley, Capital, August 1, 2019 $ 50,500 Net loss for August 1,050 Less: Withdrawals for August 3,150 Decrease in capital (2,100) Guy Mckinley, Capital, August 31, 2019 $ 48.400
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