Definition of -'s short form from the Oxford Advanced American Dictionary

     

    -'s

     short form
    short form
    NAmE//s//
     
    , NAmE//z//
     
    , NAmE//əz//
     
    (informal)
     
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  1. 1 used after he, she or it and where, what, who or how to mean “is” or “has” She's still in the bathtub. What's he doing now? It's time to go now. Who's taken my pen?
  2. 2(used after let when making a suggestion that includes yourself and others) us Let's go out for lunch.
See the Oxford Advanced Learner's Dictionary entry: -'s