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Question & Answer: ://newconnect.mheducation.com/flow/connect.html ek 1-Homework。 Statement of Owne Equit…..

Chapter The Accounting Cycle.pptx tional University-My Applic Connect 율 Secure I https://newconnect.mheducation.com/flow/connect.html ek 1-Homework。 Statement of Owne Equity x < G As of December 31, 2017 Saved As of December 31, 2017, Armani Companys financial records show the following items and amounts. $10,800 9,800 6,800 5, 800 9,900 16,500 4,800 6,800 13,800 34,600 23, 600 20,800 12,800 8,800 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 3 2016 ook int Dividenda Consulting revenue Rental revenue Salaries expense Rent expense Selling and adninistrative expenses Required: Prepare a yearend statement of owners equity for Armani Company. ARMANI COMPANY Statement of Owners Equity For Year Ended December 31, 2017 d Ann < Prev 3of5 … Next > B. P

Chapter The Accounting Cycle.pptx tional University-My Applic Connect 율 Secure I https://newconnect.mheducation.com/flow/connect.html ek 1-Homework。 Statement of Owne Equity x

Expert Answer

 

PREPARE OWNER’S EQUITY STATEMENT :

AMOUNT
Common stock 16500
Add : Retained earnings 6800
Total shareholder’s equity 23300

Statement of retained earnings

Amount
Begining retained earnings 4800
Add : Net income 15800
Less : Dividends (13800)
Ening retained earrnings 6800

Calculate net profit : (34600+23600) – (20800+12800+8800) = 15800

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