Question
Required information As of December 31, 2019, Armani Companys financial records show the following items and amounts. Cash $ 11,400 Accounts receivable 10,400 Supplies 7,400
Required information
As of December 31, 2019, Armani Companys financial records show the following items and amounts.
|
|
|
|
|
|
| Cash |
| $ | 11,400 |
|
| Accounts receivable |
|
| 10,400 |
|
| Supplies |
|
| 7,400 |
|
| Equipment |
|
| 6,400 |
|
| Accounts payable |
|
| 13,800 |
|
| Common stock |
|
| 15,400 |
|
| Retained earnings, Dec. 31, 2018 |
|
| 4,400 |
|
| Retained earnings, Dec. 31, 2019 |
|
| 6,400 |
|
| Dividends |
|
| 14,400 |
|
| Consulting revenue |
|
| 35,800 |
|
| Rental revenue |
|
| 24,800 |
|
| Salaries expense |
|
| 21,400 |
|
| Rent expense |
|
| 13,400 |
|
| Selling and administrative expenses |
|
| 9,400 |
|
Required: Prepare the 2019 year-end income statement for Armani Company.
| ARMANI COMPANY | |||
| Income Statement | |||
| For Year Ended December 31, 2019 | |||
| Revenues |
| ||
|
| |||
|
| |||
|
| |||
| $0 |
| ||
| Expenses |
| ||
|
| |||
|
| |||
|
| |||
|
| |||
|
| |||
| Total expenses | 0 |
| |
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
18th Edition
0077486277, 978-0077486273
