Question: Prepare the company Keep It On Two Wheels Income Statement for the month January 2021. Trial Balance as of January 31, 2031 Account Number 101
Trial Balance as of January 31, 2031 Account Number 101 Credit Balance Debit Balance 51,000 21,040 102 103 104 21,000 105 12,600 106 5,300 107 10,000 108 2,083 201 29,450 202 9,650 Account Cash Accounts Receivable Prepaid Rent Materials Inventory Work In Process Finished Goods Equipment Accumulated depreciation Accounts Payable Wages Payable Long Term Note Payable Capital Account - Jet Capital Account - Plane Drawing Account - Jet Drawing Account - Plane Revenue Cost of Goods Sold Marketing Expenses G&A Salaries General Office Rent Other Expenses 203 8,000 301 44,000 302 44,000 303 6,000 304 6,000 401 7,040 501 7,033 502 1,000 503 2,000 504 1,000 505 250 Total: 144,223 144,223
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
