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Required information [The following information applies to the questions displayed below.] Part 2 of 3 Dyer, Inc., completed its first year of operations on December
Required information [The following information applies to the questions displayed below.] Part 2 of 3 Dyer, Inc., completed its first year of operations on December 31, 2018. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: points $118,500 Income Statement, 2018 Rent Revenue Expenses: Salaries and Wages Expense $ 29,400 Repairs and Maintenance Expense 13,900 Rent Expense 9,900 Utilities Expense 4,900 Travel Expense 3,900 Total Expenses Income eBook 62,000 $ 56,500 Hint You are an independent CPA hired by the company to audit the firm's accounting systems and financial statements. In your audit, you developed additional data as follows: References a. Wages for the last three days of December amounting to $400 were not recorded or paid. b. The $490 telephone bill for December 2018 has not been recorded or paid. c. Depreciation of equipment amounting to $23,900 for 2018 was not recorded. d. Interest of $590 was not recorded on the notes payable by Dyer, Inc. e. The Rental Revenue account includes $4,900 of revenue to be earned in January 2019. f. Supplies costing $690 were used during 2018, but this has not yet been recorded. g. The income tax expense for 2018 is $7,900, but it won't actually be paid until 2019. 2. Prepare, in proper form, an adjusted income statement for 2018. DYER, INC. Income Statement Inca
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