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Based on this information can you create an Income Statment Accounts Receivable  $1,200 Accounts Payable  $20,200 Advertising Expense  $750 Cash  $28,600 Cost of Goods Sold  $8,800 Drawings by Owner  $1,625 Equipment  $5,150 Interest Expense  $300 Interest Payable  $300 Inventory  $3,900 Investments by Owner  $10,000 Rent Expense  $3,600 Sales Returns  $600 Sales Revenue  $11,900 Service Revenue  $20,750 Supplies  $600 Supplies Expense  $2,025 Utilities Expense  $600 Wages Expense  $5,400

Based on this information can you create an Income Statment Accounts Receivable  $1,200 Accounts Payable  $20,200 Advertising Expense  $750 Cash  $28,600 Cost of Goods Sold  $8,800 Drawings by Owner  $1,625 Equipment  $5,150 Interest Expense  $300 Interest Payable  $300 Inventory  $3,900 Investments by Owner  $10,000 Rent Expense  $3,600 Sales Returns  $600 Sales Revenue  $11,900 Service Revenue  $20,750 Supplies  $600 Supplies Expense  $2,025 Utilities Expense  $600 Wages Expense  $5,400

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...
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  • Based on this information can you create an Income Statment
  • Accounts Receivable  $1,200
  • Accounts Payable  $20,200
  • Advertising Expense  $750
  • Cash  $28,600
  • Cost of Goods Sold  $8,800
  • Drawings by Owner  $1,625
  • Equipment  $5,150
  • Interest Expense  $300
  • Interest Payable  $300
  • Inventory  $3,900
  • Investments by Owner  $10,000
  • Rent Expense  $3,600
  • Sales Returns  $600
  • Sales Revenue  $11,900
  • Service Revenue  $20,750
  • Supplies  $600
  • Supplies Expense  $2,025
  • Utilities Expense  $600
  • Wages Expense  $5,400
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