A C D E 1 Chapter 3 The Income Statement 2 Excel Project 3 Enter the Journal entries for the five transactions and then determine the company's Net Income. 4 5 M3-14 6 7 a. Cash (+A) 25,000 8 Common Stock (+SE) 25,000 9 10 b. Utilities Expense (+E, -SE) 11 Accounts Payable (+L) 12 Salaries and Wages Expense C. 13 (+E, SE) 14 Cash (-A) 15 16 d. Accounts Receivable (+A) 17 Service Revenue (+R, +SE) 18 Repairs and Maintenance e. 19 Expense (+E, -SE) 20 Cash (-A) 21 22 Calculate Preliminary net income 23 24 25 M3-15 26 27 a. Accounts Receivable (+A) 200 28 Service Revenue (+R, +SE) 200 29 30 b. Advertising Expense (+E, -SE) 31 Cash (-A) 32 33 c. Cash (+A) 34 Service Revenue (+R, +SE) 35 36 d. Utilities Expense +E, -SE) 37 Accounts Payable (+L) 38 39 e. Accounts Receivable (+A) 40 Service Revenue (+R, +SE) 41 42 43 Calculate the Preliminary net income 44 45 46 A C D E 1 Chapter 3 The Income Statement 2 Excel Project 3 Enter the Journal entries for the five transactions and then determine the company's Net Income. 4 5 M3-14 6 7 a. Cash (+A) 25,000 8 Common Stock (+SE) 25,000 9 10 b. Utilities Expense (+E, -SE) 11 Accounts Payable (+L) 12 Salaries and Wages Expense C. 13 (+E, SE) 14 Cash (-A) 15 16 d. Accounts Receivable (+A) 17 Service Revenue (+R, +SE) 18 Repairs and Maintenance e. 19 Expense (+E, -SE) 20 Cash (-A) 21 22 Calculate Preliminary net income 23 24 25 M3-15 26 27 a. Accounts Receivable (+A) 200 28 Service Revenue (+R, +SE) 200 29 30 b. Advertising Expense (+E, -SE) 31 Cash (-A) 32 33 c. Cash (+A) 34 Service Revenue (+R, +SE) 35 36 d. Utilities Expense +E, -SE) 37 Accounts Payable (+L) 38 39 e. Accounts Receivable (+A) 40 Service Revenue (+R, +SE) 41 42 43 Calculate the Preliminary net income 44 45 46