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QS4-7 The following selected information is taken from the work sheet for Wayman Company

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The following selected information is taken from the work sheet for Wayman Company as of December 31, 2011. Using this information, determine the amount for K. Wayman, Capital, that should be reported on its December 31, 2011, balance sheet.

Balance Sheet and
Income Statement of
Statement Owner’s Equity

Dr. Cr. Dr. Cr.
K. Wayman, Capital . . . . . . . . . . . . 65,000
K. Wayman, Withdrawals . . . . . . . 32,000
Totals . . . . . . . . . . . . . . . . . . . . . . . 115,000 174,000

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