Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare an income statement The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. Ayayai Company Worksheet (Partial) For the Month
Prepare an income statement
The adjusted trial balance columns of the worksheet for Ayayai Company are as follows.
Ayayai Company Worksheet (Partial) For the Month Ended April 30, 2019 | ||||
---|---|---|---|---|
Adjusted Trial Balance | ||||
Account Titles | Dr. | Cr. | ||
Cash | 11,500 | |||
Accounts Receivable | 7,620 | |||
Prepaid Rent | 2,180 | |||
Equipment | 22,950 | |||
Accumulated DepreciationEquip. | 5,000 | |||
Notes Payable | 5,800 | |||
Accounts Payable | 4,500 | |||
Common Stock | 20,500 | |||
Retained Earnings | 8,550 | |||
Dividends | 3,500 | |||
Service Revenue | 15,500 | |||
Salaries and Wages Expense | 10,800 | |||
Rent Expense | 700 | |||
Depreciation Expense | 600 | |||
Interest Expense | 60 | |||
Interest Payable | 60 | |||
Totals | 59,910 | 59,910 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started