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The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow.

Accounts (revenue and expense items)
Fees earned	$1,475,000
Office expense	310,000
Miscellaneous expense	27,000
Wages expense	855,000

Prepare a statement of owners equity for the year ended November 30, 2016. Shane Ousel, the owner, invested an additional $67,000 in the business during the year and withdrew cash of $29,000 for personal use. Shane Ousel, capital as of December 1, 2015, was $676,000. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or there is a decrease in owners equity, enter that amount as a negative number using a minus sign.

Labels and Amount Descriptions

Labels
For the Year Ended November 30, 2016
Amount Descriptions
Additional investment by owner during year
Decrease in owners equity
Increase in owners equity
Less withdrawals
Net income for the year
Net loss for the year
Plus withdrawals
Shane Ousel, capital, December 1, 2015
Shane Ousel, capital, November 30, 2016 Prepare a statement of owners equity for the year ended November 30, 2016. Shane Ousel, the owner, invested an additional $67,000 in the business during the year and withdrew cash of $29,000 for personal use. Shane Ousel, capital as of December 1, 2015, was $676,000. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or there is a decrease in owners equity, enter that amount as a negative number using a minus sign. Ousel Travel Service Statement of Owners Equity 1 2 3 4 5 6 7

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