Statement of Owners Equity Exercise

by Suzanne Gomez
(Pueblo Colorado USA)

Use the trial balance below to prepare the statement of changes in equity.

Trial Balance
Account Description Debits Credits

Cash 25,000
Accounts Recievable 1,000
Supplies 200
Building 15,000
Equipment 15,300
Accounts Payable 3,000
Suzanne Gomez, Capital 50,000
Suzanne Gomez, Withdrawal 800
Sales of service 6,000
Salary expense 1,200
Advertising expense 300
Supply expense 200

Total 59,000.00 59,000.00

Prepare the statement of changes in equity.

Comments for Statement of Owners Equity Exercise

Click here to add your own comments

Statement of Owners Equity
by: Anonymous


Share Capital Retained Earnings Revaluation Surplus Total Equity
Balance As at Beg of Period 50,000.00 50,000.00
Changes in Equity for the year -
Drawings/Dividends (800.00) (800.00)
Net Profit for the year 4,300.00 4,300.00

Balance as at end of period 50,000.00 3,500.00 - 53,500.00

Click here to add your own comments

Return to Ask a Question About This Lesson!.

Enjoying this Website?
Help Support it with a Donation


Advertise on

Search this website:

All the lessons on this site and much, much more...

Accounting Basics: Complete Guide

Available Now On

Get Your Degree!

Find schools and get information on the program that’s right for you.

Powered by

Subscribe to
The Student Accountant newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you The Student Accountant.