Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance columns of the worksheet for Oriole Company are as follows. The owner did not make any additional investments in the business

image text in transcribedimage text in transcribed

The adjusted trial balance columns of the worksheet for Oriole Company are as follows. The owner did not make any additional investments in the business in April. ORIOLE COMPANY Worksheet (partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11,600 Accounts Receivable 7.200 Prepaid Rent 2,500 23,100 Equipment Accumulated Depreciation-Equip. 4.900 Notes Payable 5.600 Accounts Payable 5,100 Owner's Capital 29,550 Owner's Drawings 3,600 Service Revenue 15,500 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense 750 Interest Expense 80 Interest Payable 80 Totals 60,730 60,730 (a 1) Your Answer Correct Answer Your answer is partially correct. Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) ORIOLE COMPANY Income Statement For the Month Ended April 30.2022 Revenues Service Revenue $ 15,500 Expenses Salaries and Wages Expense (11.000) Rent Expense (900) i Depreciation Expense (750) Interest Expense (80) ( Total Expenses 12730 Net Income /(Loss) 2270 ORIOLE COMPANY Balance Sheet Assets $ $ $ Liabilities and Owner's Equity $ $ $

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

Step: 3

blur-text-image

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

Finance The Basics

Authors: Erik Banks

1st Edition

0415384575, 9780415384575

More Books

Students also viewed these Accounting questions

Question

What is your greatest weakness?

Answered: 1 week ago