Prepare statement of owner equity for the month of April

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Question - The income statement of Marc's Gamestation Repair is as follows:

MARC'S GAMESTATION REPAIR Income Statement Month Ended April 30, 2021

Revenue

Gamestation repair revenue $17,000

Expenses

Salaries expense $3,400

Depreciation expense 350

Utilities expense 1,400

Rent expense 600

Supplies expense 1,050

Total expenses 6,800

Profit $10,200

On April 1, the balance in Marc Luck, Capital was $11,200. During April, Marc withdrew $8,200 cash for personal use.

Instructions -

a) Prepare closing entries at April 30.

b) Prepare statement of owner's equity for the month of April.

Reference no: EM132480735

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