Question

This Test: 100 pts possi s Question: 50 pts 2 of 2 (1 complete) Data Table esented here are the accounts of Golden City Barbershop for the year ended December 31 18. (Click the icon to view the accounts.) Common Stock 29,000 11.000 S Land 11.000 Accounts Payable Notes Payable 31.000 1.000 3000 Accounts Receivable Property Tax Expense Requirement 1. Prepare Golden City's Barbershop's income statement 18,000 Advertising Expense 35,000 Dividends 126,000 Bulding 11.000 Rent Expense 2,600 Cash 62.000 Salaries Expense 14,000 Equipment Salaries Payable 1,200 2,000 Insurance Expense 180.000 Service Revenue 6.600 Interest Expense Office Supplies 10.000 Retained Earnings Dec 31. En nno Done Print Choose from any list or enter any number in the input fields and then continue to the rie Activity Details here to search V9PTEW9

Answer 1

ANSWER: Golden City Barbershop INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2018 REVENUE Service Revenue 180,000 EXPENSES Rent Expense 11,000 Property tax expense Salaries expense 3,000 62,000 Advertising expense 18,000 $ Insurance expense 2,000 Interest expense 6,600 $ Less:Total Expenses (102,600) $ NET INCOME 77,400