Question

Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $305,530. During the year, Hannah invested an additional $21,670 and withdrew $38,820. For the year ended December 31, Hannah's Pool Service Company reported a net income of $67,510. Prepare a statement of owner's equity for the year ended December 31. Hannah's Pool Service Company Statement of Owner's Equity For the Year Ended December 31 $ $ $

Answer 1

$355,890

Step-by-step explanation:

Hannah's Pool Service Company Statement of Owner's Equity For the Year Ended December 31

Details Amount ($)

Beginning equity 305,530

Additional capital 21,670

Net income 67,510

Withdrawal (38,820)

Ending equity 355,890

Therefore, the ending Owner's Equity for the Year Ended December 31 is $355,890.