As of December 31, 2017, Audi Company's financial records show the following items and amounts. Cash ....................................................
Question:
Cash .................................................... $2,000
Accounts receivable .................................. 1,800
Supplies ................................................ 1,200
Equipment ............................................. 1,000
Accounts payable ..................................... 4,600
A. Audi, Capital, Dec. 31, 2016 .................... 800
A. Audi, Capital, Dec. 31, 2017 .................... 1,400
A. Audi, Withdrawals ............................... 2,600
Consulting revenue ................................... 6,600
Rental revenue ........................................ 4,400
Salaries expense ...................................... 4,000
Rent expense .......................................... 2,400
Selling and administrative expenses ................ 1,600
Early in 2017, the owner invested $200 cash in the business.
Required
Prepare the 2017 year-end income statement for Audi Company.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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