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I don't believe the income statement portion is correct. Where am I going wrong? WORKSHEET MONTH ENDED JUNE 30, 2023 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL
I don't believe the income statement portion is correct. Where am I going wrong?
WORKSHEET MONTH ENDED JUNE 30, 2023 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BAL INCOME STATEMENT BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash $ 78,800 $ 78,800 $ $ 78,800 78,800 $ Accounts Receivable 24,400 24,400 24,400 24,400 Supplies 30,400 18,400 12,000 12,000 12,000 Prepaid Advertising 57,600 14,400 43,200 43,200 43,200 Prepaid Rent 144,000 12,000 132,000 132,000 132,000 Equipment 192,000 192,000 192,000 192,000 Accum. Depreciation-Equip. 3,200 3,200 3,200 3,200 8 Accounts Payable 43,200 43,200 43,200 43,200 Christopher Foster, Capital 240,400 240.400 240,400 240,400 Christopher Foster, Drawing 16,000 16.000 16.000 16.000 11 Fees Income 295,200 295,200 295,200 295,200 12 Advertising Expense 14,400 14,400 14,400 14.400 13 Depreciation Expense-Equipment 3,200 3,200 3,200 3,200 14 Rent Expense 12,000 12,000 12,000 12,000 15 Salaries Expense 30.400 30.400 30.400 30,400 16 Supplies Expense 18.400 18,400 18.400 18,400 17 Utilities Expense 5,200 5,200 5,200 5,200 Totals 578,800 $ 578,800 $ 48,000 48,000 $ 582,000 | $ 582,000 $ 582,000 | $ 582,000 582,000 582,000 10 Net IncomeStep by Step Solution
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