Question

Prepare an income statement from a list of accounts.

Darie Excel Problem 1.xlsx - Excel Tell me what you want to do File Home Insert Page Layout Data Review View Acrobat X Cut Copy Formulas 12 - A A . .A == Add-ins Help Wrap Test Morge & Center - General Normal Calibri B IU. Bad U AutoSum Fill Clear Paste = $ . % * Conditional Neutral Insert Delete Format * Format Painter Formatting Table Clipboard Alignment Styles Cells B37 1 The list below shows select accounts for YourSmart Learning Company as of January 31, 2020. 2 (Accounts are in alphabetical order) Accounts Payable Accounts Receivable Cash Equipment Income Tax Expense Operating Expense Other Expenses Other Revenue Rent Expense Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 8,088 6,960 13,445 4,800 1,350 15,000 3,482 4,500 5,800 6,882 17,200 25,000 10,000 1,046 19 Required: 20 1. Prepare an Income Statement for the month ended January 31, 2020. Use cell references 21 to select account titles and amounts to be included on the income statement. 22 Note: List revenues and expenses in order of largest to smallest dollar amounts. Excel 1 Ready 0 0 0 > x3

Answer 1

25,000 10,000 4,500 39,500 Your Smart Learning Cmopany Inome Statement For the Month Ended January 31, 2020 Revenues: Test Prep Revenue Tutoring Revenue Other Revenue Total Revenues (A) Expenses: Operating Expense Rent Expense Salaries Expense Income Tax Expense Other Expenses Total Expenses (B) Net Income (C) = (A) - (B) 15,000 5,800 6,882 1,350 3,482 32,514 6,986