Selected accounts from the ledger of Weird Sports for the current fiscal year ended June 30, 2014, are as

Selected accounts from the ledger of Weird Sports for the current fiscal year ended June 30, 2014, are as follows:


Paige Demar, Capital Paige Demar, Drawing
June 30 20,900 July 1 (2013) 115,800 Sept. 30 6,000 June 30 24,000
 30 24,000 Dec. 31 6,000
March 31 6,000
June 30 6,000



Income Summary
June 30 201,400 June 30 180,500
 30 20,900




Prepare a statement of owner’s equity for the year.


Answer:

WEIRD SPORTS
Statement of Owner’s Equity
For the Year Ended June 30, 2014
Paige Demar, capital, July 1, 2013 $115,800
Net loss $20,900
Plus withdrawals 24,000
Decrease in owner’s equity 44,900
Paige Demar, capital, June 30, 2014 $ 70,900