Question

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 statement for the year ended December 31, 2021. BEAVERS CORPORATION Income Statement For the year ended December 31, 2021 Expenses: Total expenses

Answer 1

Beavers Corporation
Income Statement
For the Year Ended December 31, 2021
	$	$
Revenue:
Service revenue	190,000.00
Total Revenue		190,000.00
Less Expenses:
Salaries expense	93,000.00
Supplies Expenses	11,500.00
Rent expense	17,500.00
Depreciation expense	27,000.00
Delivery Expense	9,500.00
Total Expenses		158,500.00
Net Income (Loss)		31,500.00