Question

Prepare the income statement of Decorating Arrangements for the year ended December 31, 2016.
Insurance Expense ....... $ 2,000
Service Revenue ....... 80,000
Utilities Expense ....... 500
Rent Expense ....... 11,000
Common Stock ....... 8,500
Cash .............. 7,000
Retained Earnings, Jan. 1, 2016 .... 4,800
Salaries Expense ....... $ 37,000
Accounts Payable ....... 4,300
Office Supplies ....... 1,500
Dividends ....... 4,500
Accounts Receivable ....... 7,500
Equipment ....... 26,600


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  • CreatedJune 12, 2015
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