Using the Information Presented Below, Prepare a Statement of Owner's

question 61

Essay

Using the information presented below, prepare a statement of owner's equity and balance sheet from the adjusted trial balance of Dodson Containers. Mr. Dodson's capital account balance of
$40,340 consists of a $30,340 beginning-year balance plus a $10,000 investment during the current year.

$\begin{array}{|l|r|l|}\hline\text { Utilities expense ... } & 2,900 & \\\hline \text { Property taxes expense ............. } & 2,400 & \\\hline \text { Insurance expense. } & 5,800 & \\\hline \text { Office supplies expense } & 250 & \\\hline \text { Depreciation expense-office equipment } & 400 & \\\hline \text { Depreciation expense-buildings........ } & 5,570 & \\\hline \text { Interest expense ... } & 3,000& \\& \$ 291,880 & \$ 291,880 \\\hline \text { Totals ............... } & &\\\hline\end{array}$

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