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Prepare statement of owner equity for the month of april

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Reference no: EM132574581

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

Question a) Prepare closing entries at April 30.

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

Reference no: EM132574581

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