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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Provided below is a trial balance for Bill’s Delivery Service. Use this trial balance for Exercises 3-10B, 3-11B, and 3-12B.

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STATEMENT OF OWNER’S EQUITY From the information in the trial balance presented above, prepare a statement of owner’s equity for Bill’s Delivery Service for the month ended September 30, 20--. Assume this is not the first month of operations and the owner did not invest in the business during September.

To determine

Prepare a statement of owner’s equity of B Delivery Service for the month ended September 30, 20---.

Explanation

Statement of owners’ equity: This statement reports the beginning owner’s equity and all the changes, which led to ending owners’ equity. Additional capital, net income from income statement is added to and a drawing is deducted from beginning owner’s equity to arrive at the result, ending owner’s equity.

Prepare a statement of owner’s equity of B Delivery Service for the month ended September 30, 20---:

B Delivery Service
Statement of Owner’s Equit...

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