Answer:
$43,745
Explanation:
Calculation for what the Capital account reported on the Statement of Owner's Equity at the end of the month would be
Using this formula
Ending Capital Balance = Cash (1)+ Photography equipment (2) +Cash for services provided (4)+Services to customers on account (6)- Monthly rent(7)- Utility (9)
Let plug in the formula
Ending Capital Balance = $13,800 + $23,000 + $6,000 + $3,050 - $1,800 - $305
Ending Capital Balance= $43,745
Therefore the balance in the Capital account reported on the Statement of Owner's Equity at the end of the month would be: $43,745
Options: True or False
Answer: True
Explanation: Financial statements is a written record of the inflow and outflow of funds in an organisation, it gives a description and clearer picture or view of how the financial activities taking place in the Organisation has been managed,it helps the decision makers to see the true picture and state of affairs of the Organisation.
EXAMINING FINANCIAL STATEMENTS HELPS TO REVEAL MORE DETAILED INFORMATION THAT CAN NOT BE OBTAINED BY JUST LOOKING AT INDIVIDUAL ITEMS IN A STATEMENT.
Answer:
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