A recent power outage had occurred that affected the accounting system for Johnson's Warehouse. Below is...

 

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A recent power outage had occurred that affected the accounting system for Johnson's Warehouse. Below is a list of the company's accounts and their balances as of January 31, 2021. Based on the information provided, what is the company's net income/net loss for the month of January? Account Title Debit Credit Cash $30.050 Prepaid Insurance Custodial Expense Equipment 1. Johnson Capital 1,200 2.700 4500 $25.880 Fees eamed 10.650 Supplies 875 Rent Expense 5,000 Long term Note Payable Repairs Expense Interest Expense 30.000 400 250 Wages Expense 2,500 Accumulated Depreciation-Equipment Depreciation Expense-Equipment 200 150 Vehicle 25.000 Acrumulated Depreciation--Vehicie Depreciation Expense-Vehicle Wages Payable Utilities Expense 200 5,595 600 Insurance Expense 100 Accounts Payable 2.200 Johnson. Withdrawals 2.500 76,825 76,825 A recent power outage had occurred that affected the accounting system for Johnson's Warehouse. Below is a list of the company's accounts and their balances as of January 31, 2021. Based on the information provided, what is the company's net income/net loss for the month of January? Account Title Debit Credit Cash $30.050 Prepaid Insurance Custodial Expense Equipment 1. Johnson Capital 1,200 2.700 4500 $25.880 Fees eamed 10.650 Supplies 875 Rent Expense 5,000 Long term Note Payable Repairs Expense Interest Expense 30.000 400 250 Wages Expense 2,500 Accumulated Depreciation-Equipment Depreciation Expense-Equipment 200 150 Vehicle 25.000 Acrumulated Depreciation--Vehicie Depreciation Expense-Vehicle Wages Payable Utilities Expense 200 5,595 600 Insurance Expense 100 Accounts Payable 2.200 Johnson. Withdrawals 2.500 76,825 76,825

Answer rating: 100% (QA)

Income Statement For the Month of January Revenues Fees Earned 10650 Less Operating Ex... View the full answer