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Category > Management Posted 08 Oct 2017 My Price 7.00

Strauss’s Hair Salon

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.

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Oct 2017 08:10 PM My Price 7.00

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