Answer:
Stylist Services Co.
July31
Debit Fees Earned 618,200
Credit Wages Expense388,400
Credit Rent Expense60,000
Credit Supplies Expense19,500
Credit Miscellaneous Expense 6,150
Credit Marlena Fenton, Capital 144,150
July 31
Debit Marlena Fenton, Capital75,000
Credit Marlena Fenton, Drawing 75,000
Explanation:
Calculation of Marlena Fenton, Capital
Fees Earned 618,200
Less Wages Expense (388,400)
Less Rent Expense (60,000)
Less Supplies Expense (19,500)
Less Miscellaneous Expense ( 6,150)
= Marlena Fenton, Capital 144,150
