The adjusted trial balance for Impressions Dance School has been provided for the year ended September 30,
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Question:
The adjusted trial balance for Impressions Dance School has been provided for the year ended September 30, 2020. The new bookkeeper alphabetized the accounts.
Account | Debit | Credit | |||||
Accounts payable | $ | 21,680 | |||||
Accounts receivable | $ | 12,500 | |||||
Accumulated depreciation, automobiles | 38,360 | ||||||
Accumulated depreciation, building | 159,000 | ||||||
Alisha Bjorn, capital | 150,960 | ||||||
Alisha Bjorn, withdrawals | 12,000 | ||||||
Automobiles | 66,000 | ||||||
Building | 226,000 | ||||||
Cash | 10,600 | ||||||
Copyright | 5,900 | ||||||
Depreciation expense, automobiles | 6,100 | ||||||
Depreciation expense, building | 27,400 | ||||||
Dance lesson revenue | 149,680 | ||||||
Gas, oil, and repairs expense | 28,600 | ||||||
Land | 31,900 | ||||||
Land for future expansion | 40,000 | ||||||
Notes payable* | 80,000 | ||||||
Brand name | 7,800 | ||||||
Rent revenue | 20,000 | ||||||
Salaries expense | 164,000 | ||||||
Store supplies | 3,380 | ||||||
Unearned revenue | 22,500 | ||||||
Totals | $ | 642,180 | $ | 642,180 | |||
*The notes payable plus interest are due in 18 months.
The owner made no investments during the year.
Prepare an income statement for the year ended September 30, 2020.
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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