Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for Orioles Animations is presented below. ORIOLE COMPANY Adjusted Trial Balance December 31, 2021 Debit Credit Cash $3,300 Accounts receivable 4,100

The adjusted trial balance for Orioles Animations is presented below.

ORIOLE COMPANY Adjusted Trial Balance December 31, 2021

Debit

Credit

Cash

$3,300

Accounts receivable

4,100

Prepaid expenses

2,600

Equipment

46,000

Accumulated depreciationequipment

$17,250

Accounts payable

5,100

Unearned revenue

9,800

M. Oriole, capital

22,600

M. Oriole, drawings

20,000

Service revenue

63,200

Rent expense

9,900

Salaries expense

24,300

Supplies expense

2,000

Depreciation expense

5,750
$117,950

$117,950

Prepare an income statement for the year. Mr. Oriole invested $5,400 cash in the business during the year.

image text in transcribed

image text in transcribed image text in transcribed

image text in transcribed

ORIOLE COMPANY Income Statement Month Ended December 31, 2021 V Revenues Service Revenue $ 63200 Profit/(Loss) Rent 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

Accounting And Finance An Introduction

Authors: Eddie McLaney, Peter Atrill

10th Edition

1292312262, 978-1292312262

More Books

Students also viewed these Accounting questions