The capital, withdrawal and income summary accounts for Anna Delvey Travel Agency areshown in T-account form below. The closing entries have been recorded for the year endedDecember 31, 2018.Dec. 31Delvey, Capital420,000 Jan. 1360,000Mar. 9 280,000Dec. 31 430,000Delvey, Withdrawals90.000 Dec. 3170,00090,000Mar. 31420,000June 30Sept. 30Dec. 31170,000Income Summary850,000Dec. 31 1,280,000Dec. 31Dec. 31430,000Required:Prepare a statement of changes in equity.

Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…

The capital, withdrawal and income summary accounts for Anna Delvey Travel Agency are shown in T-account form below. The closing entries have been recorded for the year ended December 31, 2018. Delvey, Capital 420,000 Jan. 1 Dec. 31 360,000 280.000 Dec. 31 430,000 Mar. 9 Mar. 31 June 30 Sept. 30 Dec. 31 Delvey, Withdrawals 90.000 Dec. 31 70,000 90.000 170,000 420,000 Dec. 31 Dec 31 Income Summary 850,000 Dec. 31 1.280,000 430.000 Required Prepare a statement of changes in equity.

The capital, withdrawal and income summary accounts for Anna Delvey Travel Agency are shown in T-account form below. The closing entries have been recorded for the year ended December 31, 2018. Delvey, Capital 420,000 Jan. 1 Dec. 31 360,000 280.000 Dec. 31 430,000 Mar. 9 Mar. 31 June 30 Sept. 30 Dec. 31 Delvey, Withdrawals 90.000 Dec. 31 70,000 90.000 170,000 420,000 Dec. 31 Dec 31 Income Summary 850,000 Dec. 31 1.280,000 430.000 Required Prepare a statement of changes in equity.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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