Item$12$

$5\mathrm{.}35$points

Time Remaining $3$ hours $12$ minutes $31$ seconds

$03$:$12$:$31$

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Check my workCheck My Work button is now enabled$1$

Item $12$

Time Remaining $3$ hours $12$ minutes $31$ seconds

$03$:$12$:$31$

Exercise $1-23($Algo$)$ Linking the income statement and statement of owner's equity LO P$2$

Terrell Company reported the following data at the end of its first year of operations on December $31.$

Equipment$ $18,500$Accounts payable$7,500$Owner investments$22,500$Terrell, Withdrawals$5,500$Services revenue$49,500$Rent revenue$9,500$Salaries expense$37,500$Advertising expense$3,500$Utilities expense$1,500$