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E4.11 The income statement of Norski Co. for the month of July. NORSKI, CO INCOME STATEMENT FOR THE MONTH ENDED JULY 2020 PRE-ADJUSTMENT 1 2
E4.11 The income statement of Norski Co. for the month of July. NORSKI, CO INCOME STATEMENT FOR THE MONTH ENDED JULY 2020 PRE-ADJUSTMENT 1 2 $ 5,500 Service Revenue Expenses Salaries and wages expense $ 2,100 Supplies expense 900 Utilities expense 500 Depreciation expense Insurance expense Total expenses $ 3,500 Net income $ 2,000 ADJUSTMENTS (IF ANY) 3 4 5 POST-ADJUSTMENT $ 5,500 $ 2,100 900 500 $ 3,500 $ 2,000 1. Insurance expired during July of $350 was omitted. 2. Supplies expense includes $200 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $150 was omitted. 4. Accrued but unpaid wages at July 31 of $360 were not included. 5. Services performed but unrecorded totaled $700. STEPS TO DO Check Figure Determine the "adjustments" if any that need to be made. I created this format to put in 1 -5, but enter as you want. 2,040 The end goal should be a post-adjustment income statement that makes sense
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