Please do not give solution in image format thanku Rent RevenueSalaries and Wages ExpenseSupplies ExpenseRent ExpenseInsurance ExpenseDepreciation ExpensePrepare the income statement for the year.V417,200015.00000$72.100$11,100IVANHOE COMPANYIncome Statement$$72.10018,6001,70015.0001,4001,000$75.700$12,100$75,700 The trial balances before and after adjustment for Ivanhoe Company at the end of its fiscal year are presented below.CashIVANHOE COMPANYTrial BalanceAugust 31, 2022Accounts ReceivableSuppliesPrepaid InsuranceEquipmentAccumulated Depreciation-EquipmentAccounts PayableSalaries and Wages PayableUnearned Rent RevenueOwner's CapitalService RevenueRent RevenueBeforeAdjustmentDr.$10,1008.7002.3003.90014,900Cr.$3,4005.70001.60016.10034.20011.100AfterAdjustmentDr.$10,1009.9006002,50014.900INCr.$4.4005.7001.40060016.10035.40012.100

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Description: Please do not give solution in image format thanku Rent RevenueSalaries and Wages ExpenseSupplies ExpenseRent ExpenseInsurance ExpenseDepreciation ExpensePrepare the income statement for the year.V417,200015.00000$72.100$11,100IVANHOE COMPANYIncome S

The income statement is one of the important financial statements of the business. It tells about…

Business

Accounting

Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue IVANHOE COMPANY Trial Balance August 31, 2022 Rent Revenue Before Adjustment Dr. $10,100 8.700 2.300 3,900 14,900 Cr. $3,400 5.700 0 1,600 16.100 34.200 11.100 After Adjustment Dr. $10,100 9.900 600 2,500 14.900 Cr. $4.400 * 5,700 1.400 600 16.100 35.400 12.100

Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue IVANHOE COMPANY Trial Balance August 31, 2022 Rent Revenue Before Adjustment Dr. $10,100 8.700 2.300 3,900 14,900 Cr. $3,400 5.700 0 1,600 16.100 34.200 11.100 After Adjustment Dr. $10,100 9.900 600 2,500 14.900 Cr. $4.400 * 5,700 1.400 600 16.100 35.400 12.100

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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