On June 1,20A,Global Services,Inc.,was started with $50,000 invested by the owners as share capital.On June 30,the accounting records contained the following amounts:
Prepare a statement of changes in equity for June,the first month of operation.Ignore income taxes.
Definitions:
Price Ceilings
Legally imposed maximum prices on goods or services that aim to keep them affordable for consumers, which can lead to shortages if set below the market equilibrium.
Black Markets
Illegal trading systems where goods or services are bought and sold at prices not regulated by the government, often in violation of price controls or rationing.
Black Market
An illegal trading system where goods or services are exchanged without the authorization of the government.
Rent-Controlled Apartment
Housing units whose rent is set and regulated by a government authority, typically below the market rate to make it affordable.
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