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Exercise 197 a-b The income statement of Fezzik's Shoe Repair is as follows: FEZZIK'S SHOE REPAIR Income Statement For the Month Ended April 30, 2020

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Exercise 197 a-b The income statement of Fezzik's Shoe Repair is as follows: FEZZIK'S SHOE REPAIR Income Statement For the Month Ended April 30, 2020 Revenue Service Revenue $9,500 Expenses: Salaries and Wages Expense $4,200 Depreciation Expense 350 Utilities Expense 400 Rent Expense 600 Supplies Expense 1,050 Total Expenses 6,600 Net Income $2,900 On April 1, the Owner's Capital account had a balance of $12,900. During April, Fezzik withdrew $3,000 cash for personal use. Prepare closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To close revenue account.) (To dose expense accounts.) (To close net income to capital.) Prepare an owner's equity statement for the month of April. FEZZIK'S SHOE REPAIR Owner's Equity Statement V Click if you would like to Show Work for this question: Open Show Work

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