Using the following accounts and their amounts, prepare in good format a Statement of Owner's Equity for Bright Futures Company, month ended August 31, 2011:
Definitions:
Planning Budget
A financial plan that estimates the income and expenditures for a future period, often used as a guide for financial decision making.
Revenue
The income generated from normal business operations and includes discounts and deductions for returned merchandise.
Flexible Budget
A budget that adjusts or flexes with changes in the volume or activity level.
Static Planning Budget
A budget based on a fixed level of activity and does not change in response to variations in the actual level of activity.
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