(61) Prepare Martinez Company's income statement. MARTINEZ COMPANY Income Statement eTextbook and Media The trial balances...
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(61) Prepare Martinez Company's income statement. MARTINEZ COMPANY Income Statement eTextbook and Media The trial balances before and after adjustment for Martinez Company at October 31, 2024, which is the end of its fiscal year, are as follows: Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Accounts payable Notes payable Salaries payable Interest payable Unearned revenue Before Adjustment Debit Credit $9,125 8,700 2.465 3,775 34,230 $3,435 6,060 39,590 0 0 1.650 After Adjustment Debit $9,125 9,280 750 2,480 34.230 Credit $5,655 6,060 39,590 1.210 480 1.040 PAL Accounts payable Notes payable Salaries payable Interest payable Unearned revenue E. Martinez, capital E. Martinez, drawings Service revenue Depreciation expense Insurance expense Interest expense Rent expense Salaries expense Supplies expense Totals 10,485 0 0 1.440 14.565 16,895 0 $101.680 6,060 39,590 0 0 1,650 5.590 45,355 $101.680 10,485 2,220 1,295 1.920 14,565 18.105 1,715 $106,170 6,060 39,590 1,210 480 1,040 5,590 46,545 $106.170 (61) Prepare Martinez Company's income statement. MARTINEZ COMPANY Income Statement eTextbook and Media The trial balances before and after adjustment for Martinez Company at October 31, 2024, which is the end of its fiscal year, are as follows: Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Accounts payable Notes payable Salaries payable Interest payable Unearned revenue Before Adjustment Debit Credit $9,125 8,700 2.465 3,775 34,230 $3,435 6,060 39,590 0 0 1.650 After Adjustment Debit $9,125 9,280 750 2,480 34.230 Credit $5,655 6,060 39,590 1.210 480 1.040 PAL Accounts payable Notes payable Salaries payable Interest payable Unearned revenue E. Martinez, capital E. Martinez, drawings Service revenue Depreciation expense Insurance expense Interest expense Rent expense Salaries expense Supplies expense Totals 10,485 0 0 1.440 14.565 16,895 0 $101.680 6,060 39,590 0 0 1,650 5.590 45,355 $101.680 10,485 2,220 1,295 1.920 14,565 18.105 1,715 $106,170 6,060 39,590 1,210 480 1,040 5,590 46,545 $106.170
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Step 1 MARTINEZ COMPANY Income Statement For the year Ending October 31 Service Revenue 46545 Less e... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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