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prepare an income statement Below is the year-end adjusted trial balance for Najmeh Accountin 2 3 4 5 Credit ce 2: 7 8 10 $1,200
prepare an income statement
Below is the year-end adjusted trial balance for Najmeh Accountin 2 3 4 5 Credit ce 2: 7 8 10 $1,200 13 Najmeh Accounting Trial Balance For Year Ended December 31, 2020 Account Debit Cash $8,000 Accounts receivable 2,200 Office supplies 700 Prepaid insurance 1.100 Long term note receivable 3,00 Land 50,000 Equipment 15,000 Accumulated depreciation, Equipment Building 150,000 Accumulated depreciation, Building Customer list 900 Notes payable Unearned accounting fees earned Salaries payable Najmeh Rezaei, capital** Najmeh Rezaei, withdrawals Accounting fees earned Depreciation expense, Building Depreciation expense, Equipment 600 1,500 11,000 3,000 7,000 10,000 5,000 211,400 500 Page 1 1 2 5 Page 2 6 7 B 9 10 Accumulated depreciation, Equipment $1.200 Building Accumulated depreciation, 150.000 Building 1,500 Customer list 900 Notes payable" 11,000 Unearned accounting fees earned 3.000 Salaries payable 7.000 Najmeh Rezaei, capital" 10,000 Najmeh Rezaei, withdrawals 5,000 Accounting fees earned 211,400 Depreciation expense, Building 500 Depreciation expense, Equipment 600 Insurance expense 100 Rent expense 1.100 Office supplies expense 900 Repairs expense 5,000 Telephone expense 1,000 Totals $245,100 $245,100 *The current portion of the note payable due this year is $3,000 **$5,000 was invested during the year Using the above reference, prepare an income statement. "age 3: 12 13 15 11 od + I U , B Paragraph so Step by Step Solution
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