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ORIOLE COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 8,700 9,900 Supplies 2,300 600 Prepaid Insurance 3,800 2,700 Equipment 13,600 13,600 Accumulated Depreciation-Equipment $ 3,800 $ 4,500 Accounts Payable 5,900 5,900 Salaries and Wages Payable 1,200 Unearned Rent Revenue 1,300 700 Owner's Capital 15,000 15,000 Service Revenue 34,000 35,200 Rent Revenue 10,900 11,500 Salaries and Wages Expense 17,100 18,300 Supplies Expense 1,700 Rent Expense 15,100 15,100 Insurance Expense 1,100 Depreciation Expense 700 $70,900 $70,900 $74,000 $74,000

ORIOLE COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 8,700 9,900 Supplies 2,300 600 Prepaid Insurance 3,800 2,700 Equipment 13,600 13,600 Accumulated Depreciation-Equipment $ 3,800 $ 4,500 Accounts Payable 5,900 5,900 Salaries and Wages Payable 1,200 Unearned Rent Revenue 1,300 700 Owner's Capital 15,000 15,000 Service Revenue 34,000 35,200 Rent Revenue 10,900 11,500 Salaries and Wages Expense 17,100 18,300 Supplies Expense 1,700 Rent Expense 15,100 15,100 Insurance Expense 1,100 Depreciation Expense 700 $70,900 $70,900 $74,000 $74,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 4MCQ
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Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ 2$ $
Transcribed Image Text:Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ 2$ $
ORIOLE COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 8,700 9,900 Supplies 2,300 600 Prepaid Insurance 3,800 2,700 Equipment 13,600 13,600 Accumulated Depreciation-Equipment $ 3,800 $ 4,500 Accounts Payable 5,900 5,900 Salaries and Wages Payable 1,200 Unearned Rent Revenue 1,300 700 Owner's Capital 15,000 15,000 Service Revenue 34,000 35,200 Rent Revenue 10,900 11,500 Salaries and Wages Expense 17,100 18,300 Supplies Expense 1,700 Rent Expense 15,100 15,100 Insurance Expense 1,100 Depreciation Expense 700 $70,900 $70,900 $74,000 $74,000
Transcribed Image Text:ORIOLE COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 8,700 9,900 Supplies 2,300 600 Prepaid Insurance 3,800 2,700 Equipment 13,600 13,600 Accumulated Depreciation-Equipment $ 3,800 $ 4,500 Accounts Payable 5,900 5,900 Salaries and Wages Payable 1,200 Unearned Rent Revenue 1,300 700 Owner's Capital 15,000 15,000 Service Revenue 34,000 35,200 Rent Revenue 10,900 11,500 Salaries and Wages Expense 17,100 18,300 Supplies Expense 1,700 Rent Expense 15,100 15,100 Insurance Expense 1,100 Depreciation Expense 700 $70,900 $70,900 $74,000 $74,000
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