Below are the account balances for Cowboy Law Firm at the end of
December.
Required:
Use only the appropriate accounts to prepare an income statement.
Solution
COWBOY LAW FIRM | ||
Income statement | ||
For the period ended December 31 | ||
Service revenue | $ 8,900.00 | |
Total Revenues | $ 8,900.00 | |
Expenses: | ||
Salaries expense | $ 2,000.00 | |
Utilities expense | $ 1,100.00 | |
Total Expenses | $ 3,100.00 | |
Net operating income | $ 5,800.00 |
Below are the account balances for Cowboy Law Firm at the end of December. Required:...
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