Exercise 4-2 (Part Level Submission) Selected T accounts for Oriole Esthetics on August 31, 2017, are...

Exercise 4-2 (Part Level Submission)

Selected T accounts for Oriole Esthetics on August 31, 2017, are as follows:

B. Oriole, Capital
	Aug. 1	Bal.	9,000
	10		2,100
	Aug. 31	Bal.	11,100

B. Oriole, Drawings
Aug. 15		3,000
25		3,300
Aug. 31	Bal.	6,300

Income Summary
Aug. 31	7,900	Aug. 31		15,000
		Aug. 31	Bal.	7,100

Prepare a statement of owner's equity for August 2017.

Solutions

Expert Solution

Statement of Owners Equity
as on 31st August 2017
	Capital	Profit
Opening Balance	9,000	-
Addition	2,100
Net Profit		7,100
Drawings		(6,300)
Closiing Balance	11,100	800

ekkarill92 answered 2 years ago

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