Question: Using the data for Escape Travel Service shown in Practice Exercise 1-3, prepare a statement of owners equity for the current year ended December 31,

Using the data for Escape Travel Service shown in Practice Exercise 1-3, prepare a statement of owner’s equity for the current year ended December 31, 2015. The capital of the owner, Nancy Coleman, was $475,000 as at January 1, 2015. Nancy invested an additional $45,000 in the business during the year and withdrew cash of $25,000 for personal use.

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