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The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January
The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 2018, the end of the fiscal year:
Depreciation Expense | $10,000 |
Insurance Expense | 9,000 |
Miscellaneous Expense | 7,650 |
Rent Expense | 62,000 |
Service Revenue | 637,700 |
Supplies Expense | 3,900 |
Utilities Expense | 46,600 |
Wages Expense | 536,200 |
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
Prepare an income statement. Round your answers to the nearest dollar. Use a minus sign to enter loss, if any.
Acorn Health Services Co. | ||
Income Statement | ||
For the Year Ended January 31, 2018 | ||
Service revenue | $ | |
Expenses: | ||
Wages expense | $ | |
Rent expense | ||
Utilities expense | ||
Depreciation expense | ||
Insurance expense | ||
Supplies expense | ||
Miscellaneous expense | ||
Total expenses | ||
$ |
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