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.

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

---

Definitions:

Living Standard

The degree of prosperity, ease, physical items, and essential needs accessible to an individual, community, or social group.

Per Capita

A statistical measure that divides a total figure by the population number, providing an average per person.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced by an economy in real terms.

Energy Consumption

The total amount of energy used by an individual, organization, or society.