Question
he completed financial statement columns of the worksheet for Sandhill Company are shown as follows: Sandhill Company Worksheet For the Year Ended December 31, 2020
he completed financial statement columns of the worksheet for Sandhill Company are shown as follows:
Sandhill Company Worksheet For the Year Ended December 31, 2020 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Income Statement | Balance Sheet | |||||||||
Account No. | Account Titles | Dr. | Cr. | Dr. | Cr. | |||||
101 | Cash | 9,100 | ||||||||
112 | Accounts Receivable | 10,700 | ||||||||
130 | Prepaid Insurance | 2,600 | ||||||||
157 | Equipment | 23,500 | ||||||||
158 | Accumulated DepreciationEquip. | 4,700 | ||||||||
201 | Accounts Payable | 8,900 | ||||||||
212 | Salaries and Wages Payable | 2,300 | ||||||||
301 | Owners Capital | 19,900 | ||||||||
306 | Owners Drawings | 11,800 | ||||||||
400 | Service Revenue | 59,600 | ||||||||
622 | Maintenance and Repairs Expense | 1,800 | ||||||||
711 | Depreciation Expense | 3,200 | ||||||||
722 | Insurance Expense | 1,600 | ||||||||
726 | Salaries and Wages Expense | 29,800 | ||||||||
732 | Utilities Expense | 1,300 |
|
|
| |||||
Totals | 37,700 | 59,600 | 57,700 | 35,800 | ||||||
Net Income | 21,900 | 21,900 | ||||||||
59,600 | 59,600 | 57,700 | 57,700 |
Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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