Chad Jones Established Jones' Cleaning Services,a Sole Proprietorship,by Investing $1,000

question 122

Essay

Chad Jones established Jones' Cleaning Services,a sole proprietorship,by investing $1,000 on January 1,2017.During the first year of operations,the business generated net income of $42,000.The owner withdrew cash for personal use.The ending balance of the capital account was $20,000.Prepare Jones' statement of owner's equity for the year ended December 31,2017.

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Definitions:

Carnivores

Organisms that primarily obtain nutrients from the consumption of animal tissue.

Bilaterally Symmetrical

An organismal structure characteristic where the body can be divided into identical left and right halves along a single plane.

Pentaradially Symmetrical

A form of symmetry found in some organisms, particularly sea stars, where their body can be divided into five or more equal parts.

Radially Symmetrical

An organism is described as radially symmetrical when its body structure can be sliced into symmetrical halves through any number of planes along its center.