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OBJ.5 SHOW ME HOW EE1-522 PE 1-5A Statement of owner's equity Using the income statement for Up-in-the-Air Travel Service shown in Practice Exercise 1-A, prepare a statement of owner's equity for the year ended April 30, 2017. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $34,000 for personal use. Jerome Foley, capital as of May 1, 2046, was $876,000. SHOW ME HOW EE 1-5 21 PE 1-5B Statement of owner's equity OBJ.5 Using the income statement for Zenith Travel Service shown in Practice Exercise 1-4B, prepare a statement of owner's equity for the year ended August 31, 20Y4. Megan Cox, the owner, invested an additional $43,200 in the business during the year and withdrew cash of $21,600 for personal use. Megan Cox, capital as of September 1, 2013, was $456,000, SHOW ME HOW EE 1-6 23 PE 1-6A Balance sheet OBJ. Using the following data for Up-in-the-Air Travel Service as well as the statement of own- er's equity shown in Practice Exercise 1-5A, prepare a report form balance sheet as of April 30, 2017: Accounts payable $ 90,000 Accounts receivable 417,000 Cash 170,000 Land 772.000 Supplies 16,000 hris Cotal liabilities and owners EXAMPLE EXERCISE 1-6 Balance Sheet Using the following data for Chickadee Travel Service as well as the statement of owner's equity shown in Example Exercise 1-5. prepare a balance sheet as of December 31, 2019. Accounts payable $12,200 Accounts receivable 31,350 Cash 53.050 Land 80,000 Supplies 3,350 Follow My Example 1-6 Chickadee Travel Service Balance Sheet December 31, 2019 Assets $ 53,050 31,350 3,350 80,000 $167,750 $ 12,200 Cash Accounts receivable Supplies Land Total assets.. Liabilities 155,550 $167.750 Owner's Equity Practice Exercises: PE 1-6A, PE 1-68 Accounts payable ***** Adam Cellini, capital..... Total liabilities and owner's equity

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