Question: I need help making a Income Statement 1 Trial Balance and Adjustments 2 Instructions: Use the data provided to 3 4 complete your income statement.
I need help making a Income Statement



1 Trial Balance and Adjustments 2 Instructions: Use the data provided to 3 4 complete your income statement. Do 5 6. Accounts 7 Number - Title 8 100 Cash 9 110 Accounts Receivable 70 115 Allowance for Bad Debts 11 120 Inventory 12 130 Notes Receivable 13 135 Accumulated Depreciation 14 140 Equipment 15 160 Buildings 16 170 Land 17 180 Patents 18 185 Accumulated Amortization 19 190 Interest Receivable 20 195 Prepaid Insurance Expense 21 200 Accounts Payable 90 205 Unearned Rent Revenue General Ledger Debit Credit 465,864,691 49,293,000 1,728,790 14,638,949 200,000 74,940,000 105,840,280 1,000,000 2,691,600 170,000 53,000 3,000 3,330 70,050,000 31,500 B D 140 Equipment 160 Buildings 105,840,280 1,000,000 2,691,600 170,000 170 Land 53,000 14 15 16 17 18 19 20 21 22 23 24 25 3,000 3,330 70,050,000 31,500 120,010,460 267,638,060 73,230,000 65,421,000 3,000 31,500 26 180 Patents 185 Accumulated Amortization 190 Interest Receivable 195 Prepaid Insurance Expense 200 Accounts Payable 205 Unearned Rent Revenue 300 Common Stock 305 APIC - Common Stock 340 Retained Earnings 400 Sales Revenue 410 Interest Revenue 405 Rent Revenue 415 Loss on Sale of Equipment 500 Cost of Goods Sold 510 Depreciation Expense 518 Amortization Expense 520 Bad Debt Expense 540 Salaries Expense 560 Insurance Expense 599 Income Tax Expense 600 Dividends 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 7,000 19,600,000 2,556,000 3,000 491,790 8,750,000 16,670 2,000,000 8,000 673,137,310 Total 673,137,310 Student Info Company Info Chart of Accounts Transactions Ready B D E F G H 1 Note: Be sure to fill in all of the yellow cells for the financial statements. Use the amounts in the adjusted trial balance to create your income statement. The order of the accounts within each section does not matter. 3 1 Pane in the Glass Company Income Statement For Year Ended December 31, 2018 7 B Sales Revenue Cost of Goods Sold 0 Gross Profit 1 Operating Expenses 2 3 4 5 6 7 Total Operating Expenses 8 Operating Income 9 Other Items 0 1 2. 3 Income Before Tax 4. 5 Net Income 6 7 8 Transactions T-Accounts Journal Entries Adjusted Trial Balance Journal Entries Ceady
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
