Question
Relaxation Spa had the following transactions for the month of June 2020: 1. Owner withdrew $10,000 from the company. 2. Owner invested $12,000 in the
Relaxation Spa had the following transactions for the month of June 2020:
1. Owner withdrew $10,000 from the company. 2. Owner invested $12,000 in the company. 3. Used $6,000 for lotions and oils. 4. Paid $22,400 for masseuse and administrative wages. 5. Sold $4,250 from the gift shop. 6. Received $37,000 in session fees (25% paid on account).
If the owners equity was $492,000 on June 1, 2017, what was the owners equity on June 30, 2017?
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Financial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
6th Edition
161853100X, 978-1618531001
