The income statement of Rebecca's Shoe Repair is as follows:
REBECCA'S SHOE REPAIR
Income Statement
Month Ended April 30, 2014
Revenue On April 1, the balance in Rebecca Weite, Capital was $11,200. During April, Rebecca withdrew $8,200 cash for personal use.
Instructions
a. Prepare closing entries at April 30.
b. Prepare a statement of owner's equity for the month of April.

Question

The income statement of Rebecca's Shoe Repair is as follows:
REBECCA'S SHOE REPAIR
Income Statement
Month Ended April 30, 2014
Revenue  On April 1, the balance in Rebecca Weite, Capital was $11,200. During April, Rebecca withdrew $8,200 cash for personal use.
Instructions 
a. Prepare closing entries at April 30.
b. Prepare a statement of owner's equity for the month of April.

Quizplus · Accepted Answer

The Answer of The income statement of Rebecca's Shoe Repair is as follows:
REBECCA'S SHOE REPAIR
Income Statement
Month Ended April 30, 2014
Revenue  On April 1, the balance in Rebecca Weite, Capital was $11,200. During April, Rebecca withdrew $8,200 cash for personal use.
Instructions 
a. Prepare closing entries at April 30.
b. Prepare a statement of owner's equity for the month of April.

The Income Statement of Rebecca's Shoe Repair Is as Follows