Morgan Olsen Owns and Operates Crystal Pool Service Company

question 76

Essay

Morgan Olsen owns and operates Crystal Pool Service Company. On January 1, 2014, Morgan Olsen, Capital had a balance of $252,000. During the year Morgan invested an additional $32,000 and withdrew $52,400. For the year ended December 31, 2014 Crystal Pool Service Company reported a net income of $73,200. Prepare a Statement of Owner's Equity for the year ended December 31, 2014.

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Definitions:

Exposure

A therapeutic technique used in behavioral therapy to treat anxiety disorders that involves the exposure to the feared object or context without any danger in order to overcome their anxiety.

Exposure Therapy

Any therapeutic procedure that repeatedly confronts the person with a stimulus that typically elicits an undesirable behaviour or an unwanted emotional response until the behaviour or response no longer occurs.

Systematic Desensitization

A therapeutic technique whereby patients imagine the lowest feared stimuli and combine this image with a relaxation response. Patients gradually work their way up the fear hierarchy so that they can learn to handle increasingly disturbing stimuli.

Behavioral Activation

A therapeutic approach that encourages engagement in positively reinforcing activities to treat depression and other mental health issues.