ASSETS DATE CASH + ACCOUNTS RECEIVABLE + SUPPLIES + $ EQUIPMENT + FURNITURE = LIABILITIES + OWNERS' EQUITY = ACCOUNTS CARL DRAPER, CAPITAL PAYABLE + $ Dec 2 $ $ $ 18,000 Bal 18,000 2 -550 Bal 17,450 3 -1,800 0 0 0 0 0 0 0 0 $ 18,000 $ 0 0 0 18,000 0 0 0 -550 0 0 0 17,450 1,800 0 0 Type of owners' equity transaction Owner investment Rent expense 0 laptop Bal 15,650 4 0 Bal 15,650 5 0 Bal 15,650 9 0 0 0 0 0 0 0 0 900 0 900 1,500 1,800 0 0 17,450 0 4,200 4,200 0 1,800 4,200 4,200 17,450 0 0 900 0 1800 4200 5100 17,450 0 0 Bal 15650 12 -250 Bal 15,400 18 1,100 Bal 16,500 1500 900 0 0 1500 900 0 0 1500 900 0 0 1500 1800 4200 5100 18750 0 0 0 -250 1800 4200 5100 18700 0 0 0 0 1800 4200 5100 19800
E1-14 (10-15 min) Requirement 1 WILFORD TOWING SERVICE Income statement for the month ended 30 June 2021 $ $ Revenue: Service revenue 2600 Expenses: rate expense 250 Rent expense 550 Total expenses 800 Profit 1800 Requirement 2 The income statement reports revenues and expenses for a period of time. Requirement 1 E1-15 (10-15 min) Statement of changes in equity for the month ended 30 June 2021 Carl draper, capital, 1 June 2021 0 Owner contribution 18000 Profit 1800 Less:drawings 0 Carl Draper, capital, 30 June 2021 19800 $ 19800 Requirement 2 The statement of changes in owners' equity reports the changes in capital during a time period. It reports a business's owner contributions, profit or loss, and owner withdrawals