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just need the Income statement Comprehensive Accounting Cycle Review 7 (Part Level Submission) On December 1, 2019, Tamarisk, Inc. had the following account balances. Debit
just need the Income statement
Comprehensive Accounting Cycle Review 7 (Part Level Submission) On December 1, 2019, Tamarisk, Inc. had the following account balances. Debit Credit $2,900 Cash $17,800 Accumulated Depreciation-Equipment 6,200 Notes Receivable 2,500 Accounts Payable Accounts Receivable 7,100 Common Stock 52,400 11,000 Inventory 15,900 Retained Earnings Prepaid Insurance 1,600 $72,500 Equipment 27,600 $72,500 During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,900, terms 1/10, n/30. 17 Sold merchandise on account $16,300, terms 2/10, n/30. The cost of the merchandise sold was $9,200. 19 Paid salaries $2,100. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation $200 per month. 2. Insurance expired $400. Debit Credit 27123 1 Accounts Receivable 1380 1 1 JU 19471 Tinventory Prepaid Insurance 1 Accumulated Depreciation-Equipment 3100 Accounts Payable 6200 Sales Revenue 16300 TSales Discounts Cost of Goods Sold 9200 Depreciation Expense Salaries and Wages Expense Insurance Expense Common Stock 52400 Retained Earnings 11000 Equipment 27600 89000 89000 .doc (91) Prepare an income statement for December. Tamarisk, Inc. Income Statement Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT .doc Step by Step Solution
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