Question: **********Find the missing amount in owners equity statement********* Direction: Read and solve the below question carefully. 1-Presented below is information related to the sole proprietorship

**********Find the missing amount in owners equity statement*********

Direction: Read and solve the below question carefully.

1-Presented below is information related to the sole proprietorship of ABC attorney:

Legal service revenue-2020

$450,000

Total Expenses-2020

200,000

Asset , January 1,2020

90,000

Liabilities, January 1, 2020

50,000

Drawing-2020

55,000

Capital-2020

15,000

Owners equity, December 31 -2020

?

Instructions:

Compute missing figure by preparing 2020 owners equity statement for ABCs legal practice.

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