Apex Systems Co. offers its services to residents in the Seattle area. Selected

Question

Apex Systems Co. offers its services to residents in the Seattle area. Selected accounts from the ledger of Apex Systems Co. for the fiscal year ended December 31, 2019, are as follows: Bart Nesbit, Capital Dec. 31 83,200 Jan. 1 (2019) 1,350,000 Dec. 31 333,000 Bart Nesbit, Drawing Mar. 31 20,800 Dec. 31 83,200 June 30 20,800 Sept. 30 20,800 Dec. 31 20,800 Prepare a statement of owner’s equity for the year. No additional investments were made during the year. If a net loss has been incurred or there has been a decrease in owner’s equity, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.

Explanation / Answer

Apex Systems Co. Statement of Owner’s Equity For the Year Ended December 31, 2019 Bart Nesbit, capital, January 1, 2019 1350000 Net income for year 333000 Less: Withdrawals 83200 Increase in owner’s equity 249800 Bart Nesbit, capital, December 31, 2019 1599800

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