Morgan Olsen owns and operates Crystal Pool Service Company. On January 1, 2010, Morgan Olsen, Capital had a balance of $252,000. During the year Morgan invested an additional $32,000 and withdrew $52,400. For the year ended December 31, 2010, Crystal Pool Service Company reported a net income of $72,300. Prepare a Statement of Owner’s Equity for the year ended December 31, 2010.
Morgan Olsen owns and operates Crystal Pool Service Company. On January 1, 2010, Morgan Olsen, Capital had a balance of $252,000. During the year Morgan invested an additional $32,000 and withdrew $52,400. For the year ended December 31, 2010, Crystal Pool Service Company reported a net income of $72,300. Prepare a Statement of Owner’s Equity for the year ended December 31, 2010.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 16EA: Discuss how each of the following transactions for Watson, International, will affect assets,...
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Morgan Olsen owns and operates Crystal Pool Service Company. On January 1, 2010, Morgan Olsen, Capital had a balance of $252,000. During the year Morgan invested an additional $32,000 and withdrew $52,400. For the year ended December 31, 2010, Crystal Pool Service Company reported a net income of $72,300. Prepare a Statement of Owner’s Equity for the year ended December 31, 2010.
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