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As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $2,600 cash during the year. $ 11,600 10,600 7,600 6,600 14,200 Cash Accounts receivable Supplies Equipment Accounts payable

As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $2,600 cash during the year. $ 11,600 10,600 7,600 6,600 14,200 Cash Accounts receivable Supplies Equipment Accounts payable

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 1PB: Provide journal entries to record each of the following transactions. For each, also identify: *the...
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As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $2,600 cash during the year. $ 11,600 10,600 7,600 6,600 14,200 17,600 22,200 14,600 Cash Accounts receivable Supplies Equipment Accounts payable Armani, Capital, December 31, prior year Armani, Capital, December 31, current year Armani, Withdrawals Consulting revenue Rental revenue 36,200 25,200 21,600 13,600 9,600 Salaries expense Rent expense Selling and administrative expenses Required: Prepare the statement of owner's equity for Armani Company for the current year ended December 31. ARMANI COMPANY Statement of Owner's Equity For Current Year Ended December 31 Armani, Capital, December 31, prior year 17,600 Add: Investments by owner 2,600 Add: Net income 16,600 36,800 Less: Withdrawals by owner (14,600) Armani, Capital, December 31, current year $ 22,200
Transcribed Image Text:As of December 31 of the current year, Armani Company's records show the following. Hint. The owner invested $2,600 cash during the year. $ 11,600 10,600 7,600 6,600 14,200 17,600 22,200 14,600 Cash Accounts receivable Supplies Equipment Accounts payable Armani, Capital, December 31, prior year Armani, Capital, December 31, current year Armani, Withdrawals Consulting revenue Rental revenue 36,200 25,200 21,600 13,600 9,600 Salaries expense Rent expense Selling and administrative expenses Required: Prepare the statement of owner's equity for Armani Company for the current year ended December 31. ARMANI COMPANY Statement of Owner's Equity For Current Year Ended December 31 Armani, Capital, December 31, prior year 17,600 Add: Investments by owner 2,600 Add: Net income 16,600 36,800 Less: Withdrawals by owner (14,600) Armani, Capital, December 31, current year $ 22,200
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