Glent Health Spa prepared the following trial balance at its year-end of September 30, 2016.rThe company is owned by Wayne Glent.

Prepare a multistep income statement.

Pakery is a shop that sells different types of pies. The following information is available for the  year ending June 30, 2016.

 

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Prepare the multistep income statement for June 2016.r

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Account Titles Cash Accounts Receivable Inventory Prepaid Expenses Glent Health Spa Trial Balance September 30, 2016 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Bank Loan Glent, Capital Glent, Drawings Sales Revenue Gain on Sale of Equipment Cost of Sales Depreciation Expense Interest Expense Maintenance Expense Rent Expense Salaries Expense Total DR $14,600 6,000 6,600 2,000 40,000 1,000 30,000 500 600 1,200 15,000 12,500 $130,000 CR $2,500 8,000 6,000 9,000 38,750 61,750 4,000 $130,000 Account Titles Cash Accounts Receivable Inventory Prepaid Expenses Glent Health Spa Trial Balance September 30, 2016 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Bank Loan Glent, Capital Glent, Drawings Sales Revenue Gain on Sale of Equipment Cost of Sales Depreciation Expense Interest Expense Maintenance Expense Rent Expense Salaries Expense Total DR $14,600 6,000 6,600 2,000 40,000 1,000 30,000 500 600 1,200 15,000 12,500 $130,000 CR $2,500 8,000 6,000 9,000 38,750 61,750 4,000 $130,000

Answer rating: 100% (QA)

Glent Health Income statement For the year ended September 30 ... View the full answer