The adjusted trial balance of Kwun Company at December 31, 2014, includes the following accounts (in thousands):
Question:
The adjusted trial balance of Kwun Company at December 31, 2014, includes the following accounts (in thousands): Share Capital—Ordinary W15,600; Dividends W6,000; Service Revenue W38,400; Salaries and Wages Expense W16,000; Insurance Expense W2,000; Rent Expense W4,400; Supplies Expense W1,500; and Depreciation Expense W1,300. Prepare an income statement for the year.
Step by Step Answer:
KWUN COMPANY Income Statement For the Year Ended December 31 2014 in thousan...View the full answer
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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