Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 4-13 The income statement of Oriole Company for the month of July shows net income of $3,820 based on Service Revenue $7,800, Salaries and

image text in transcribed

Exercise 4-13 The income statement of Oriole Company for the month of July shows net income of $3,820 based on Service Revenue $7,800, Salaries and Wages Expense $2,290, Supplies Expense $920, and Utilities Expense $770. In reviewing the statement, you discover the following: 1. Insurance expired during July of $520 was omitted. 2. Supplies expense includes $290 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 $350 were not included. 5. Service performed but unrecorded totaled $740. Prepare a correct income statement for July 2022. ORIOLE COMPANY Income Statement $ Click if you would like to Show Work for this question: Open Show Work

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

Step: 3

blur-text-image

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

Accounting

Authors: Carl S. Warren, Philip E. Fess, James M. Reeve, C.Rollin Niswonger, Jim Reeve

18th Edition

0538839333, 978-0538839334

More Books

Students also viewed these Accounting questions

Question

Why are employees considering union representation?

Answered: 1 week ago

Question

What is the total annual turnover rate?

Answered: 1 week ago