Question
The adjusted trial balance of Sunland Company at December 31, 2020, includes the following accounts: Owner's Capital $ 17,300, Owner's Drawings $ 7,000, Service Revenue
The adjusted trial balance of Sunland Company at December 31, 2020, includes the following accounts: Owner's Capital $ 17,300, Owner's Drawings $ 7,000, Service Revenue $ 38,300, Salaries and Wages Expense $ 16,400, Insurance Expense $ 1,900, Rent Expense $ 3,800, Supplies Expense $ 1,400, and Depreciation Expense $ 1,500. Prepare an income statement for the year.
| SUNLAND COMPANY Income Statement For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020 | ||
| DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues | ||
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| DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues | ||
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| $ | |
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| DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues | ||
| DrawingsExpensesInvestmentsNet Income / (Loss)Owners Capital, January 1Owners Capital, December 31RevenuesTotal ExpensesTotal Revenues | $ | |
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Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities
Authors: Kate Mooney
1st Edition
0071719288, 9780071719285
