Use the information in Problem 1-3B to prepare a year-end statement of owner's equity for Audi Company. The owner invested $200 cash during the year.
In Problem 1-3B
As of December 31, 2017, Audi Company's financial records show the following items and amounts.
Cash .................................................... $2,000
Accounts receivable .................................. 1,800
Supplies ................................................ 1,200
Equipment ............................................. 1,000
Accounts payable ..................................... 4,600
A. Audi, Capital, Dec. 31, 2016 .................... 800
A. Audi, Capital, Dec. 31, 2017 .................... 1,400
A. Audi, Withdrawals ............................... 2,600
Consulting revenue ................................... 6,600
Rental revenue ........................................ 4,400
Salaries expense ...................................... 4,000
Rent expense .......................................... 2,400
Selling and administrative expenses ................ 1,600
Early in 2017, the owner invested $200 cash in the business.