Question: Current Attempt in Progress Selected T accounts for Crane Esthetics on August 31, 2021, are as follows: B. Crane, Capital B. Crane, Drawings Aug. 1

Current Attempt in Progress Selected T accounts for Crane Esthetics on

August 31, 2021, are as follows: B. Crane, Capital B. Crane, Drawings

Aug. 1 Bal. 9,000 Aug. 15 3,100 10 2,200 25 3,400 Aug.

31 Bal. 11,200 Aug. 31 Bal. 6,500 Income Summary Aug. 31 7,600

Current Attempt in Progress Selected T accounts for Crane Esthetics on August 31, 2021, are as follows: B. Crane, Capital B. Crane, Drawings Aug. 1 Bal. 9,000 Aug. 15 3,100 10 2,200 25 3,400 Aug. 31 Bal. 11,200 Aug. 31 Bal. 6,500 Income Summary Aug. 31 7,600 Aug. 31 15,000 Aug. 31 Bal. 7,400 Prepare a statement of owner's equity for the month ended August 2021. (List items that increase owner's equity first.) CRANE ESTHETICS Statement of Owner's Equity Year Ended August 31, 2021 B. Crane, Capital, August 1, 2021 V $ 9000 Add Investments 2200 Revenues 7400 18600 > Less Drawings 6500 Profit/(Loss) 12100 Prepare entries to close the Income Summary and drawings accounts. Post these entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Aug. 31 Income Summary 11200 B. Crane, Capital 11200 (To close income summary) Aug. 31 B. Crane, Capital 5300 B. Crane. Drawings 5300 (To close drawings account) Income Summary Bal. 7600 Aug. 31 V 15000 Clos. 7400 B. Crane, Capital Bal. 9000 B. Crane, Drawings Bal. Aug 31 7

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