The Capital, Withdrawals, and Income Summary accounts for Axel's Hair Salon are shown in T account form

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The Capital, Withdrawals, and Income Summary accounts for Axel's Hair Salon are shown in T account form below. The closing entries have been recorded for the year ended December 31, 20x7.
A. TYLER, CAPITAL

Prepare a statement of owner's equity for Axel's Hair Salon?

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Principles of Accounting

ISBN: 978-0618736614

10th edition

Authors: Belverd Needles, Marian Powers, Susan Crosson

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Question Posted: Aug 01, 2016 01:00 PM

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The Capital, Withdrawals, and Income Summary accounts for Axel's Hair Salon are shown in T account form

Question:

12/31/x7 4,500 12/31/x6 13,000 12/31/x7 9,500 18,000 Bal INCOME SUMMARY 12/31/x7 12/31/x7 Bal. 21,500 12/31/x7 31,000 9,500 A. TYLER, WITHDRAWALS 4/1/x7 7/1/x7 10/1/x7 Bal. 1,500 12/31/x7 4,500 1,500 1,500

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Principles of Accounting

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