Ocean Shores is located in west Washington. Ocean Shores is part of Grays Harbor County. Ocean Shores has 8.51 square miles of land area and 3.89 square miles of water area. As of 2010-2014, the total Ocean Shores population is 5,609, which has grown 46.22% since 2000. The population growth rate is much higher than the state average rate of 17.05% and is much higher than the national average rate of 11.61%.
UGMA/UTMA: An Overview. UGMA / UTMA accounts are generally set up at a bank or brokerage firm. The custodian of an UGMA / UTMA account controls and manages the assets for a minor (the beneficiary of the account).
Accounting Journal: Closing Entries. Since sales and revenue accounts have a credit balance, these accounts are closed by debiting the sales and revenue accounts, and crediting the income summary account. Similarly, closing entries are made to the expense accounts by crediting each expense account, and debiting the income summary account. The difference between sales and expenses, or net income, was transferred to the income summary account. Calculating Net Income.