statement of income of august

On July 31, 2021, the end of the prior fiscal year, Wildhorse Repair Services Ltd. reported the following alphabetically ordered list of accounts and amounts. $ 2.100 Deferred revenue $1.210 3,000 Equipment 9,500 Accounts payable Accounts receivable Accumulated depreciation-equipment Accumulated depreciation-vehicles Bank loan payable (non-current) 1.900 19.250 Retained earnings Salaries payable 5.500 1,360 4,300 Supplies 920 Cash 8.900 Vehicles 27,500 Common shares 14.200 During August, the following summary transactions were completed Aug 1 2 Paid S270 for advertising on Kijiji for the current month. Provided $1.210 of services related to cash received in advance last month for services to be performed this month. Paid August rent, 5890 Received $1.300 cash from customers in payment of accounts 3 6 7 Signed a contract with Merrithew's Appliances Ltd to provide future repair services for its customers as required. 7 10 13 15 20 22 Signed a contract with Merrithew's Appliances Ltd. to provide future repair services for its customers as required. Paid $2,960 for salaries due employees, of which $1,600 was for August and $1,360 for July salaries payable. Received $2.700 cash for services performed to date in August. Purchased new equipment for $2,000, which was financed with a bank loan. Paid creditors $1,800 of accounts due. Purchased supplies on account for $700. Paid $3.100 for employees' salaries. Billed customers $3,560 for services performed. Received $710 from customers for services to be performed in the future, Paid $600 on the bank loan, in addition to interest of $60. Paid income tax of $410. Declared and paid $360 of dividends to shareholders. 24 27 29 30 31 31 WILDHORSE REPAIR SERVICES LTD. Trial Balance Month Ended August 31, 2021 Debit Credit Cash 3160 Accounts Receivable 5260 Supplies 1620 Equipment 11500 Accumulated Depreciation Equipment 1900 Vehicles 27500 Accumulated Depreciation - Vehicles 5500 Accounts Payable 1000 Deferred Revenue 710 Salaries Payable Bank Loan Payable 5700 14200 Common Shares Retained Earnings 19250 Dividends Declared 360 Service Revenue 7470 Advertising Expense 270 Rent Expense 890 Salaries Expense 4700 Interest Expense 60 $ 55730 $ 55730 Prepare a statement of income for August. WILDHORSE REPAIR SERVICES LTD Statement of Income $ >