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help with income statement please should equal net income $267,877 Credit Debit 475,400 806,000 16,120 82,025 10,000 41,400 Number Title 100 Cash 110 Accounts Receivable
help with income statement please
should equal net income $267,877
Credit Debit 475,400 806,000 16,120 82,025 10,000 41,400 Number Title 100 Cash 110 Accounts Receivable 115 Allowance for Bad Debts 120 Inventory 130 Notes Receivable 135 Accumulated Depreciation 140 Equipment 160 Buildings 170 Land 180 Patents 185 Accumulated Amortization 190 Interest Receivable 195 Prepaid Insurance Expense 200 Accounts Payable 205 Unearned Rent Revenue 300 Common Stock 305 APIC - Common Stock 340 Retained Earnings 400 Sales Revenue 256,500 362,500 415,835 25,800 53,000 350 8,500 300,050 120,400 775,600 873,230 743,700 350 6,000 410 Interest Revenue 405 Rent Revenue 415 Loss on Sale of Equipment 500 Cost of Goods Sold 510 Depreciation Expense 518 Amortization Expense 520 Bad Debt Expense 540 Salaries Expense 560 Insurance Expense 580 Sales Returns and Allowances 599 Income Tax Expense 600 Dividends Total 4,000 35,820 10,000 3,000 14,620 384,000 25,500 2,000 8,000 2,929,850 2,929,850 Pane in the Glass Company Income Statement For Year Ended December 31, 2019 Sales Revenue Sales Returns & Allowances $743,700 $0 $743,700 (35,820) 707,880 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense (10,000) Amortization Expense (3,000) Bad Debt Expense (14,620) Salaries Expense (384,000) Insurance Expense (25,500) Total Operating Expenses Operating Income Other Items Rent Revenue 6,000 Interest Revenue 350 Loss on sales of equipment (4,000) Income Before Tax Income Tax Expense Net Income (437,120) 270,760 2,350 273,110 (2,000) 271,110Step by Step Solution
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