Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: 12,488 169,800 6,988 44,600 490.800 144,080 49,800 49,680 5,988 18,689

image text in transcribed

image text in transcribed

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: 12,488 169,800 6,988 44,600 490.800 144,080 49,800 49,680 5,988 18,689 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated deprecialion-equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Saleries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 91,800 598,888 275,888 19.de 34,000 49,000 3,988 1,245,183 1,243.de Required Prepare an income statement for China Tea Company for the year ended December 31, 2021 Required Prepare an Income statement for China Tea Company for the year ended December 31, 2021. CHINA TEA COMPANY Income Statement For the Year Ended December 31, 2021 0 Operating expenses 0 Total operating expenses Operating income Other expense

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

A Non-Technical Guide To International Accounting

Authors: Roger Hussey, Audra Ong

1st Edition

1946646865, 9781946646866

More Books

Students also viewed these Accounting questions

Question

What are the four C's that can benefit HR managers?

Answered: 1 week ago