Assignment
You will be creating a Statement of Changes in Owners Equity for your assignment. Here is an example for you to use as a guideline:
| Name of Business | ||
| Statement of Changes in Owner’s Equity | ||
| For the Period Ending | ||
| Accounts and What You Add and Subtract are Listed Below | Amount (use this column for subtotals) |
Amount (use this column for totals) |
| Beginning Capital, March 1, 2010 | 23,800.00 | |
| Add: Investment by Owner | 1,000.00 | |
| Net Income | 3,276.00 | |
| Total Increase in Capital (this is the total of above 2 lines Investment and Net Income) |
4,276.00 | |
| Subtotal (Beginning Capital is added to amount above; total of above 3 lines) |
28,076.00 | |
| Less: Withdrawals by Owner | 700.00 | |
| Ending Capital, March 31, 2010 (Beginning Capital + Additions - Subtractions) |
27,376.00 | |
To learn more about the Statement of Changes in Owners Equity, watch this instructional video.
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Complete the following assignment and submit it to the Financial Statements of the Sole Proprietorship Dropbox.
This assignment is 8 points.
Create a financial statement titled “Statement of Changes in Owner’s Equity” that includes the information below. Solve this problem using a spreadsheet. You may use the Statement of Changes in Owner's Equity template to complete the assignment.
Information to include on your Statement of Changes in Owners Equity:
Mr. José is running a retail stationery shop and his capital on March 1st, 2005 is $10,000. He introduced additional capital of $2,000 on March 5th and his net income for March 2005 is $3,000. His withdrawals are $4,000.
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Reminder: Be sure to submit your assignment at this time.