The adjusted trial balance of Kwun Photos at December 31, 2020, includes the following accounts: Owners Capital
Question:
The adjusted trial balance of Kwun Photos at December 31, 2020, includes the following accounts: Owner’s Capital W16,400, Owner’s Drawings W7,000, Service Revenue W39,000, Salaries and Wages Expense W16,000, Insurance Expense W2,000, Rent Expense W4,000, Supplies Expense W1,500, and Depreciation Expense W1,300. Prepare an income statement for the year (amounts in thousands).
Step by Step Answer:
KWUN PHOTOS Income Statement For the Year Ended December 31 2020 Revenu...View the full answer
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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