Below are the account balances for Cowboy Law Firm at the end ofDecember.AccountsCashSalaries expenseAccounts payableRetained earningsUtilities expenseSuppliesService revenueCommon stockExpenses:Balances$ 4,2001,6002,200Total expenses4,4001,100Required:Use only the appropriate accounts to prepare an income statement.12,6008,1004,800COWBOY LAW FIRMIncome StatementFor the Period Ended December 31

Income statement records the revenue and expense of the business for a given period.

Answered: Accounts Les expense mts payable med…

Accounts Les expense mts payable med earnings cies expense ies ce revenue n stock Balances $4,200 1,600 2,200 4,400 1,100 12,600 8,100 4,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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