1 answer

Statement of Owner's Equity Zack Gaddis owns and operates Gaddis Advertising Services. On January 1, 2018,...

Question:

Statement of Owner's Equity

Zack Gaddis owns and operates Gaddis Advertising Services. On January 1, 2018, Zack Gaddis, Capital had a balance of $152,400. During the year, Zack invested an additional $7,600 and withdrew $53,300. For the year ended December 31, 2018, Gaddis Advertising Services reported a net income of $69,800.

Prepare a statement of owner's equity for the year ended December 31, 2018. Use the minus sign to indicate negative values.

Gaddis Advertising Services
Statement of Owner's Equity
For the Year Ended December 31, 2018
$
$
$

Answers

Gaddis Advertising Services
Statement of Owner's Equity
For the Year Ended December 31, 2018
Zack Gaddis, capital January 1, 2018 152,400
Additional investment 7,600
Net Income 69,800
Withdrawals -53,300
24,100
Zack Gaddis, capital December 31, 2018 $176,500

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