Question: Problem 4-03A a-d The completed financial statement columns of the worksheet for Sandhill Company are shown as follows: Sandhill Company Worksheet For the Year Ended
Problem 4-03A a-d
The completed financial statement columns of the worksheet for Sandhill Company are shown as follows:
Sandhill Company
Worksheet
For the Year Ended December 31, 2020
Income Statement
Balance Sheet
Account
No.
Account Titles
Dr.
Cr.
Dr.
Cr.
101
Cash
9,100112
Accounts Receivable
10,700130
Prepaid Insurance
2,600157
Equipment
23,500158
Accumulated DepreciationEquip.
4,700201
Accounts Payable
8,900212
Salaries and Wages Payable
2,300301
Owner's Capital
19,900306
Owner's Drawings
11,800400
Service Revenue
59,600622
Maintenance and Repairs Expense
1,800711
Depreciation Expense
3,200722
Insurance Expense
1,600726
Salaries and Wages Expense
29,800732
Utilities Expense
1,300
Totals
37,70059,60057,70035,800Net Income
21,900
21,900
59,600
59,600
57,700
57,700
(a1)
Prepare an income statement.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
SANDHILL COMPANY
Income Statement
choose the accounting period
December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
select an opening name for section one
DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item
$enter a dollar amount
select an opening name for section two
DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item
$enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues
enter a total amount for section two
select a closing name for this statement
DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues
$enter a total net income or loss amount
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