Question

Statement of Owner's Equity Zack Gaddis owns and operates Gaddis Advertising Services. On January 1, 20Y3, Zack Gaddis, Capital had a balance of $186,000. During the year, Zack invested an additional $9,300 and withdrew $65,100. For the year ended December 31, 20Y3, Gaddis Advertising Services reported a net income of $89,800.

Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values.

Answer 1

Zack Gaddis

Statement of owner's equity for the year ended December 31, 20Y3

Capital Retained Earnings Total

Beginning of the Year :

Opening Balance $186,000 - $186,000

During the year :

Additional Capital $9,300 - $9,300

Drawings ($65,100) - ($65,100)

Net Income - $89,800 $89,800

At the end of the year $130,200 $89,800 $220,000

Step-by-step explanation:

The statement of owner's equity for the year ended December 31, 20Y3 is prepared as above.