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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
preparation of Statement of owner’s Equity
E5A. The Capital, Withdrawals, and Income Summary accounts for Strauss’s Hair Salon are shown in the T accounts that follow. The closing entries have been recorded for the year ended December 31, 2014.
B. Strauss, Capital
|
Dr. 12/31/14 9,000 |
Cr. 12/31/13 26,000 12/31/14 19,000 |
|
|
Bal. 36,000 |
Income Summary
|
Dr. 12/31/14 43,000 12/31/14 19,000 |
Cr. 12/31/14 62,000 |
|
Bal. — |
|
B. Strauss, Withdrawals
|
Dr. 4/1/14 3,000 7/1/14 3,000 10/1/14 3,000 |
Cr. 12/31/14 9,000 |
|
Bal. — |
|
Prepare a statement of owner’s equity for Strauss’s Hair Salon.
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