Question: Using the Adjusted Trial Balance below, prepare an Income Statement for the year ended December 31. 20XX. Hinkleton Widgets Adjusted Trial Balance December 31,


Using the Adjusted Trial Balance below, prepare an Income Statement for the

year ended December 31. 20XX. Hinkleton Widgets Adjusted Trial Balance December 31, 

Using the Adjusted Trial Balance below, prepare an Income Statement for the year ended December 31. 20XX. Hinkleton Widgets Adjusted Trial Balance December 31, 20XX ACCOUNT TITLE DEBIT CREDIT Cash $ 395,000 Accounts Receivable $ 110,000 Supplies $ 103,000 Equipment $ 150,000 Accumulated Depreciation - Equipment Accounts Payable $ 78,000 $ 4,000 Unearned Revenue $ 12,000 A.B. Cee, Capital A.B. Cee, Drawing Fees Earned Wages Expense Rent Expense Supplies Expense Totals $ 366,000 $ 27,000 $ 700,000 $ 120,000 $ 75,000 $ 180,000 $1,160,000 $1,160,000

Step by Step Solution

3.39 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Hinkleton Widgets Income Statement For the year ended December 31 20XX Revenues Fe... View full answer

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!