Statement of Owner’s Equity The revenues and expenses of Sentinel Travel Service for the year en 1 answer below »

Statement of Owner's Equity

The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:

Fees earned $722,525
Office expense 166,180
Miscellaneous expense 14,450
Wages expense 346,810

Prepare a statement of owner’s equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $43,400 in the business during the year and withdrew cash of $27,500 for personal use. Barb Schroeder, capital as of September 1, 2018, was $195,000.

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