Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyze the following adjusted Trial Balance for Remington Sales and prepare an Income Statement Remington Sales Adjusted Trial Balance 12/31/2016 Account Debit Credit Cash 63,740

Analyze the following adjusted Trial Balance for Remington Sales and prepare an Income Statement

Remington Sales Adjusted Trial Balance 12/31/2016
Account Debit Credit
Cash 63,740
Accounts Receivable 88,600
Trucks 102,900
Office Furniture 8,400
Accounts Payable 3,000
Notes Payable 30,600
Capital Stock 30,000
Retained Earnings, 2016 January 1 30,540
Dividends 18,300
Sales Revenue 371,010
Fuel Expense 21,900
Salaries Expense 65,850
Utilities Expense 2,310
Rent Expense 15,000
Supplies Expense 75,600
Miscellaneous Expense 2,550
$465,150 $465,150

Prepare an income statement using the adjusted trial balance information.

Remington Sales
Income Statement
For month ended December 31, 2017
Account Debit Credit
Net Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Peter C. Garrison, Ray H., Noreen, Eric W., Brewer

12th Edition

0071274227, 978-0071274227

More Books

Students also viewed these Accounting questions

Question

6. Is all Internet training the same? Explain.

Answered: 1 week ago