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The adjusted trial balance of Hanson Hawk Company at September 30, 2022 includes the following accounts: Owner's Capital $27,700; Owner's Drawings $9,750; Service Revenue $46,800; Insurance Expense $1,950; Salaries and Wages Expense $18,000; Rent Expense $3,000; Supplies Expense $650; and Depreciation Expense $1,100. Prepare an owner's equity statement for the year.
Substitutes
Products or services that can replace each other in use, offering consumers alternatives.
Necessity
A necessity is a good or service that is considered essential for basic living and well-being, such as food, water, and shelter.
Price Elasticity
The responsiveness of the quantity demanded of a good to a change in its price.
Midpoint Formula
A method used in economics and mathematics to calculate the average rate of change or percentage change between two points on a line or curve.
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