The Cookie Fantasy Bakeshop had owner's capital of $75,000 on February 15, 2019. For the year ended December 31, 2019, they had net income of $37,545 but owner drawings of $15,000, bringing their owner's capital to $97,545. For the year ended December 31, 2020 their owner's capital increased to $172,545 due to net income of $48,950, an owner contribution of $13,400 and another of $17,650, partially offset by owner drawings of $5,000.
The Cookie Fantasy Bakeshop had owner's capital of $75,000 on February 15, 2019. For the year ended December 31, 2019, they had net income of $37,545 but owner drawings of $15,000, bringing their owner's capital to $97,545. For the year ended December 31, 2020 their owner's capital increased to $172,545 due to net income of $48,950, an owner contribution of $13,400 and another of $17,650, partially offset by owner drawings of $5,000.
The Cookie Fantasy Bakeshop had owner's capital of $75,000 on February 15, 2019. For the year ended December 31, 2019, they had net income of $37,545 but owner drawings of $15,000, bringing their owner's capital to $97,545. For the year ended December 31, 2020 their owner's capital increased to $172,545 due to net income of $48,950, an owner contribution of $13,400 and another of $17,650, partially offset by owner drawings of $5,000.
The Cookie Fantasy Bakeshop had owner's capital of $75,000 on February 15, 2019. For the year ended December 31, 2019, they had net income of $37,545 but owner drawings of $15,000, bringing their owner's capital to $97,545. For the year ended December 31, 2020 their owner's capital increased to $172,545 due to net income of $48,950, an owner contribution of $13,400 and another of $17,650, partially offset by owner drawings of $5,000.
FOR THE YEAR ENDED DECEMBER 31,2019 Owner's Capital, February 15, 2019 75,000.00 Add: Net Income 37,545.00 Less: Owner's Drawing 15,000.00 Owner's Capital, December 31, 2019 97,545.00
Cookie Fantasy Bakeshop
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31,2020 Owner's Capital, December 31, 2019 97,545.00 Add: Net Income 48,950.00 Owner's Contribution 16-Mar-20 13,400.00 19-Aug-20 17,650.00 Less: Owner's Drawing 5,000.00 Owner's Capital, December 31, 2020 172,545.00
Playdate Kiddie Gym
Drawings account FOR THE YEAR ENDED DECEMBER 31,2020 857,340-765,430=91,910857,340−765,430=91,910 115,465-91,910=23,555115,465−91,910=23,555 91,910 is retained earnings and 23,555 is account receivable