Use the data from the trial balance below to prepare an income statement. Please show your work
Fantastic news! We've Found the answer you've been seeking!
Question:
Use the data from the trial balance below to prepare an income statement. Please show your work to receive full credit. Some of the items will be needed and some will not.
It can be a single step or multi step statement. That is your choice.
Adjusted Trial Balance
Debit Credit
Cash $77.800
Accounts Rec. 19,500
Supplies Inventory 7.650
Accounts Payable $8,500
Taxes Payable 5,350
Common Stock 35,000
Fee Earned Revenue 95,300
Operating Expense 39,200
Total 144,150 144,150
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: