Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SMART TOUCH LEARNING Income Statement SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit 15.200 Month Ended December 31, 2016

image text in transcribedimage text in transcribed

SMART TOUCH LEARNING Income Statement SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit 15.200 Month Ended December 31, 2016 Cash Revenue: Accounts Receivable 8,400 Office Supplies 200 Expenses: Prepaid Rent 10,100 Furniture 17,800 Accumulated Depreciation-- Furniture 6,100 Accounts Payable 2,000 Salaries Payable 500 Interest Payable 300 Total Expenses 9.600 Unearned Revenue 5.000 Net Income 36,700 Notes Payable 7.100 Common Stock 9,900 Retained Earnings 10,100 Dividends 26,000 Service Revenue 46,300 Depreciation Expense--Furniture 2,000 Interest Expense Rent Expense 3,000 Salaries Expense 3.500 Supplies Expense 800 Total 87,300 87,300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting

Authors: Christine Jonick

1st Edition

1940771153, 9781940771151

More Books

Students also viewed these Accounting questions

Question

Do you agree with the results/recommendations?

Answered: 1 week ago