Question

Chapter 04 Homework Application) eBook Show Me How Ofice 365 Calculator се 1. EX.04.01 2. EX04.03 ALGO EX0405 ALGO 4. EX.04.14 5. EX 04.17 Income statement; net loss The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 2017, the end of the fiscal year: Depreciation Expense $11,000 Insurance Expense 10,000 Miscellaneous Expense 7,350 Rent Expense 56,000 Service Revenue 627,200 Supplies Expense 4,300 Utilities Expense 47,400 Wapes Expense 549,200 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. 6. EX.04.20 7. EX.04.06.EXCEL ALGO Open spreadsheet Prepare an income statement. Round your answers to the nearest dollar. Use a minus sign to enter loss, if any. Acorn Health Services Co. Income Statement

Any answers?

Answer 1

Acron Health Services Co
Income Statement
For the year Ended January 31, 20Y7
Service revenue		$ 627,200
Less: Expenses
Wages expense	$ 549,200
Supplies expense	$      4,300
Rent expense	$    56,000
Insurance expense	$    10,000
Depreciation expense	$    11,000
Misc. expense	$      7,350
Utilities expense	$    47,400
Total Expenses		$ 685,250
Net loss		$ (58,050)

You can reach me over comment box, if you have any doubts. Please rate this answer