Question: I need help on this Accounting Question: Morrison Services Ltd. reports the following adjusted trial balance at August 31. 2021: MORRISON SERVICES LTD. Adjusted Trial

I need help on this Accounting Question:

I need help on this Accounting Question: MorrisonI need help on this Accounting Question: MorrisonI need help on this Accounting Question: MorrisonI need help on this Accounting Question: MorrisonI need help on this Accounting Question: MorrisonI need help on this Accounting Question: MorrisonI need help on this Accounting Question: Morrison
Morrison Services Ltd. reports the following adjusted trial balance at August 31. 2021: MORRISON SERVICES LTD. Adjusted Trial Balance August 31. 2021 Debit Credit Cash $11.4?0 Accounts receivable 18.400 Supplies 3.000 Prepaid insurance 3.650 Equipment 26.400 Accumulated depreciationequipment $5.905 Accounts payable 2.?50 Salaries payable 2100 Interest payable 1.600 Rent payable 1250 Income tax payable 1.300 Deferred revenue 400 Bank loan payable, 2024 25.500 Common shares 4000 Retained earnings 5.300 Dividends declared 600 Service revenue 55.425 Salaries expense 19.300 Rent expense 13.445 Depreciation expense 2.4?5 Supplies expense 1.?50 Interest expense 1.600 Insurance expense 1.240 Incometax expense 2.200 Total $105530 $105530 During the year. the company issued common shares for $1300. Other revenues and gains Net income Revenues Expenses Other expenses and losses Gross profit Income before income tax Net sales Income from operations Net loss Net Purchases Total expensesGross profit Other revenues and gains Other expenses and losses Income from operations Net loss Net income Net Purchases Total expenses Expenses Net sales Income before income tax Revenues 1| 1| 1| Revenues Income from operations Net loss Other expenses and losses Net sales Net income Total expenses Net Purchases Income before income tax Expenses Other revenues and gains Gross profit Net sales Expenses Net income Other revenues and gains Gross profit Revenues Net loss Income from operations Other expenses and losses Income before income tax Total expenses Net Purchases Net loss Expenses Net Purchases Other revenues and gains Net income Gross profit Income before income tax Total expenses Other expenses and losses Income from operations Revenues Net sales Prepare an income statement. MORRISON SERVICES LTD Statement of Income For the year ended August 31, 2021 Z Z

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!