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Problem (III.) From the following Adjusted Trial Balance prepare only an Income Statement for the year ended 12/31/2012, must be in good form, DO NOT
Problem (III.) From the following "Adjusted Trial Balance" prepare only an Income Statement for the year ended 12/31/2012, must be in good form, DO NOT abbreviate accounts on statements: (15 pts.) $12,000 Peter Plumbing Adjusted Trial Balance Dec 31, 2012 Dr. Salaries Expense $24,000 Rental Service Revenue $ 13,000 Equipment $20,000 Rent Expense Unearned Plumbing Revenue $ 4,000 Prepaid Insurance $ 600 Tax Expense $ 4,000 Cash $ 5,800 Plumbing Revenue $42.000 Accounts Receivable $12,500 Withdrawals-Peter $ 5,400 Notes Payable $ 6,000 Truck $16,000 Postage Expense $ 1,000 Supplies $ 5,000 Capital-Peter $25,000 Insurance Expense $ 3,000 Unearned Repair Revenue $ 1,000 Utilities Expense $ 2,100 Salaries Payable $ 2,000 Accounts Payable $14,400 Repair Revenue $ 4,000 Totals $111,400 $111,400
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