Prepare an income statement for the year ended December 31, 2021
Brief Exercise 3-16 Prepare an income statement (L03-5)
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $265,000 Salaries Expense, $108,000; Supplies Expense, $19,000, Rent Expense, $25,000; Depreciation Expense, $42,000; and Delivery Expense, $17,000.
Prepare an income statement for the year ended December 31, 2021
Homework Answers
rate positively ..
| Computation of income statement | ||||
| Service revenue | 265000 | |||
| Expenses | ||||
| salaries expense | 108000 | |||
| Supplies expenses | 19000 | |||
| rent expenses | 25000 | |||
| Depreciation expenses | 42000 | |||
| Delivery expenses | 17000 | |||
| Total expenses | 211000 | |||
| Net income | 54000 |
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue,...
The following account balances
appear in the 2021 adjusted trial balance of Beavers Corporation:
Service Revenue, $190,000; Salaries Expense, $93,000; Supplies
Expense, $11,500; Rent Expense, $17,500; Depreciation Expense,
$27,000; and Delivery Expense, $9,500. Prepare an income statement
for the year ended December 31, 2021.
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $190,000; Salaries Expense, $93,000; Supplies Expense, $11,500; Rent Expense, $17,500; Depreciation Expense, $27,000, and Delivery Expense, $9,500. Prepare an income...
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue,...
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $230,000; Salaries Expense, $101,000; Supplies Expense, $15,500; Rent Expense, $21,500; Depreciation Expense, $35,000; and Delivery Expense, $13,500. Prepare an income statement for the year ended December 31, 2021. BEAVERS CORPORATION Income Statement For the year ended December 31, 2021 Expenses: Total expenses 0
Prepare Debit Company's income statement and statement of retained earnings for the year ended December 31,...
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
) Prepare the income statement for the year ended December 31. (2) Prepare the statement of...
)
Prepare the income statement for the year ended December 31. (2)
Prepare the statement of retained earnings for the year ended
December 31
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Cred Debit $ 6,600 16,500 2,000 183,000 $ 37,698 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 11,800 Accounts Receivable 148,000 Prepaid Rent 5,800 Supplies 29,000 Equipment 380,000 Accumulated Depreciation $ 133,000 Accounts Payable 11,800 Salaries Payable 10,800 Interest Payable 4,800 Notes Payable (due in two years) 38,000 Common Stock 280,000 Retained Earnings 58,000 Service Revenue 480,000 Salaries Expense 380,000 Rent Expense 19,000 Depreciation Expense 38,000 Interest Expense 4,800 Totals $ 1,016,400 $ 1,016,400 1. Prepare...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2011: Depreciation Expense $11,600 Fees Earned 616,000 Insurance Expense 2,200 Miscellaneous Expense 4,640 88,200 Rent Expense Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Calculator Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Prepare an income statement for Urgent Messenger Service. Urgent Messenger Service Income Statement For the Year Ended...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2018: $10,650 724,500 5,000 Depreciation Expense Fees Eamed Insurance Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 6,650 75,000 393,100 6,150 41,200 Prepare an income statement. Urgent Messenger Service Income Statement For the Year Ended November 30, 2018 Expenses: Total expenses od
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,600
Accounts Receivable
136,000
Prepaid Rent
4,600
Supplies
23,000
Equipment
260,000
Accumulated Depreciation
$
121,000
Accounts Payable
10,600
Salaries Payable
9,600
Interest Payable
3,600
Notes Payable (due in two years)
26,000
Common Stock
160,000
Retained Earnings
46,000
Service Revenue
360,000
Salaries Expense
260,000
Rent Expense
13,000
Depreciation Expense
26,000
Interest Expense
3,600
Totals
$
736,800
$
736,800
Prepare an...
The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance...
The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance for Fight Blue Hens Corporation is presented below. Debit $ 10,500 135.00 1,500 22,500 250, $120,000 10,5ee 9, See Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 45, 350,000 250.000 5713,500 $713,50 Required: 1. Prepare an...
The following account balances
appear in the 2021 adjusted trial balance of Beavers Corporation:
Service Revenue, $190,000; Salaries Expense, $93,000; Supplies
Expense, $11,500; Rent Expense, $17,500; Depreciation Expense,
$27,000; and Delivery Expense, $9,500. Prepare an income statement
for the year ended December 31, 2021.
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $190,000; Salaries Expense, $93,000; Supplies Expense, $11,500; Rent Expense, $17,500; Depreciation Expense, $27,000, and Delivery Expense, $9,500. Prepare an income...
The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $230,000; Salaries Expense, $101,000; Supplies Expense, $15,500; Rent Expense, $21,500; Depreciation Expense, $35,000; and Delivery Expense, $13,500. Prepare an income statement for the year ended December 31, 2021. BEAVERS CORPORATION Income Statement For the year ended December 31, 2021 Expenses: Total expenses 0
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
)
Prepare the income statement for the year ended December 31. (2)
Prepare the statement of retained earnings for the year ended
December 31
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Cred Debit $ 6,600 16,500 2,000 183,000 $ 37,698 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2011: Depreciation Expense $11,600 Fees Earned 616,000 Insurance Expense 2,200 Miscellaneous Expense 4,640 88,200 Rent Expense Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Calculator Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Prepare an income statement for Urgent Messenger Service. Urgent Messenger Service Income Statement For the Year Ended...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2018: $10,650 724,500 5,000 Depreciation Expense Fees Eamed Insurance Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 6,650 75,000 393,100 6,150 41,200 Prepare an income statement. Urgent Messenger Service Income Statement For the Year Ended November 30, 2018 Expenses: Total expenses od
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,600
Accounts Receivable
136,000
Prepaid Rent
4,600
Supplies
23,000
Equipment
260,000
Accumulated Depreciation
$
121,000
Accounts Payable
10,600
Salaries Payable
9,600
Interest Payable
3,600
Notes Payable (due in two years)
26,000
Common Stock
160,000
Retained Earnings
46,000
Service Revenue
360,000
Salaries Expense
260,000
Rent Expense
13,000
Depreciation Expense
26,000
Interest Expense
3,600
Totals
$
736,800
$
736,800
Prepare an...
The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance for Fight Blue Hens Corporation is presented below. Debit $ 10,500 135.00 1,500 22,500 250, $120,000 10,5ee 9, See Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 45, 350,000 250.000 5713,500 $713,50 Required: 1. Prepare an...
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