Below is the list of accounts of Messi Lionel Football Shop Pty Ltd on 30 June 2021 for the financialyear.АccountAmountInsurance Expense5,00026,0003,00011,00067,0009,5006,0002,00054,00022,0004,0008,400|82,00021,000Cash at BankSuppliesAccounts PayableSales RevenueAccounts ReceivableDrawingsInterest ExpenseBank LoanEquipmentTelephone ExpenseUnearned RevenueCapitalInventoryPrepare an income statement for the business using the above information.Ifyou accidentally delete the answer template, you may undo the deletion using "Ctrl + Z" (forWindows) or "Command + Z" (for Mac). If that does not work, please click on this link AnswerTemplate. You may copy and paste the answer template to the answer box.

Formula: Net Income = Total Revenues - Total expenses.

Below is the list of accounts of Messi Lionel Football Shop Pty Ltd on 30 June 2021 for the financial year. Account Amount 5,000 26,000 3,000 11,000 67,000 9,500 6,000 Insurance Expense Cash at Bank Supplies Accounts Payable Sales Revenue Accounts Receivable Drawings

Below is the list of accounts of Messi Lionel Football Shop Pty Ltd on 30 June 2021 for the financial year. Account Amount 5,000 26,000 3,000 11,000 67,000 9,500 6,000 Insurance Expense Cash at Bank Supplies Accounts Payable Sales Revenue Accounts Receivable Drawings

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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