46. Use Oma Bean Corporation's adjusted trial balance to prepare the company's income statement. OMA BEAN CORPORATION Adjusted Trial Balance For Year Ending December 31, 2019 Debit Credit Cash $ 66,000 Accounts receivable 42,000 Equipment 564,000 Accumulated depreciation $ 108,000 Notes payable 90,000 Common stock 195,000 Retained earnings 93,000 Sales 489,000 Rent expense 66,000 Salaries expense 174,000 Depreciation expense 63,000 0 Totals $975,000 $975,000
46. Use Oma Bean Corporation's adjusted trial balance to prepare the company's income statement. OMA BEAN CORPORATION Adjusted Trial Balance For Year Ending December 31, 2019 Debit Credit Cash $ 66,000 Accounts receivable 42,000 Equipment 564,000 Accumulated depreciation $ 108,000 Notes payable 90,000 Common stock 195,000 Retained earnings 93,000 Sales 489,000 Rent expense 66,000 Salaries expense 174,000 Depreciation expense 63,000 0 Totals $975,000 $975,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 53BE
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