The following accounts are taken from the December 31, 2010, financial statements of Time Warner, Inc. (Amounts
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Service Revenue...................... $ 9,028
Other Revenues....................... 14,749
Salaries Expense....................... 6,126
Cash..................................... 3,663
Accounts Receivable.................. 6,413
Interest Expense...................... 1,178
Accounts Payable..................... 7,733
Advertising Revenue................. 5,682
Long-term Debt...................... 16,523
Other Expenses........................ 3,213
Unearned Revenue...................... 884
Equipment.............................. 3,874
Income Tax Expense................... 1,348
Operating Expense................... 15,023
Required
Prepare an Income Statement for the year ended December 31, 2010.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025372
4th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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