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I need help making an incomestatment using this balance sheet. Account Debit Credit Accounts payable $46,000 Accounts rec $3,000 Building 80,000 Cash 17,000 Revenue 126,000
I need help making an incomestatment using this balance sheet.
Account Debit Credit Accounts payable $46,000 Accounts rec $3,000 Building 80,000 Cash 17,000 Revenue 126,000 Common shares 126,000 Retained earnings 12,000 Land 94,000 Machinery 50,000 Notes payable 114,000 Office suppli 3,000 Office suppli 7,000 Salaries expe 148,900 Insurance exp 8,000 Utilities expe 3,500 Income Tax e 5,400 Interest exper 4,200 Totals $424,000 $424,000Step by Step Solution
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