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Given the adjusted trial balance for the Stoney Creek Resort, prepare the statement of owner's ...

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Given the adjusted trial balance for the Stoney Creek Resort, prepare the statement of owner's ...

Given the adjusted trial balance for the Stoney Creek Resort, prepare the statement of owner's equity for the year ended December 31, 2014. There were no owner investments during the year.

   Stoney Creek Resort
   Adjusted Trial Balance
   December 31, 2014

   Debit   Credit
Cash   $ 15,000
Accounts receivable   30,000
Supplies   3,200
Prepaid insurance   7,500
Land   40,000
Building   160,000
Accum. amortization-building      $ 12,000
Equipment   75,000
Accum. amortization-equipment      8,500
Accounts payable      12,000
Salary payable      2,000
Unearned service revenue      25,000
Mortgage payable      100,000
Douglas Reycraft, Capital      60,000
Douglas Reycraft, Withdrawals   23,000
Service revenue      257,200
Salary expense   65,000
Utilities expense   24,000
Insurance expense   13,000
Amortization expense-building   9,000
Amortization expense-equipment   3,000
Supplies expense     9,000   ________
Total   $476,700   $476,700

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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