Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation Adjusted Trial Balance December 31, 2019 Required:
Question:
Oxmoor Corporation
Adjusted Trial Balance
December 31, 2019
Required:
Prepare a single-step income statement for Oxmoor for the year ended December 31, 2019.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Debit Credit Account Cash Accounts Receivable Prepaid Rent Inventory Long-Term Investment Equipment Accumulated Depreciation Accounts Payable Interest Payable Note Payable (short-term) Bonds Payable Common Stock $ 13,300 6,700 54,000 481,400 110,900 88,000 $ 23,700 111,700 4,400 50,000 180,000 300,000 Retained Earnings, 1/1/2019 45,635 Dividends 50,000 583,900 Sales Revenue Cost of Goods Sold 277,000 Wages Expense Rent Expense Depreciation Expense Interest Expense Income Taxes Expense 98,250 50,000 29,000 2,700 38,085 $1,299,335 $1,299,335 Totals
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