The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery
Question:
Prepare an income statement.
Transcribed Image Text:
Depreciation Expense Fees Earned $ 12,200 Rent Expense 990,000 Salaries Expense 5,750 Supplies Expense 6,650 Utilities Expense $ 80,000 502,400 7,150 Insurance Expense Miscellaneous Expense 40,000
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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