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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. 1 360,000 280,000 Dec. 31 430.000 Dec. 31 Mar. 9 Mar. 31 June 30 Sept. 30 Dec. 31 Delvey, Withdrawals 90,000 Dec. 31 420,000 70,000 90,000 170,000 Dec. 31 Dec. 31 Income Summary 850,000 Dec. 31 430,000 1,280,000 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. 1 360,000 280,000 Dec. 31 430.000 Dec. 31 Mar. 9 Mar. 31 June 30 Sept. 30 Dec. 31 Delvey, Withdrawals 90,000 Dec. 31 420,000 70,000 90,000 170,000 Dec. 31 Dec. 31 Income Summary 850,000 Dec. 31 430,000 1,280,000 Required: Prepare a statement of changes in equity.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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. Dec. 31 Delvey, Capital 420,000 Jan. 1 360,000 Mar. 9 280,000 Dec. 31 430,000 Delvey, Withdrawals 90.000 Dec. 31 70,000 90,000 Mar. 31 420,000 June 30 Sept. 30 Dec. 31 170,000 Income Summary 850,000 Dec. 31 1,280,000 Dec. 31 Dec. 31 430,000 Required: Prepare a statement of changes in equity.
Transcribed Image Text: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. Dec. 31 Delvey, Capital 420,000 Jan. 1 360,000 Mar. 9 280,000 Dec. 31 430,000 Delvey, Withdrawals 90.000 Dec. 31 70,000 90,000 Mar. 31 420,000 June 30 Sept. 30 Dec. 31 170,000 Income Summary 850,000 Dec. 31 1,280,000 Dec. 31 Dec. 31 430,000 Required: Prepare a statement of changes in equity.
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