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The income statement of Blossom Co. for the month of July shows net income of 2,900 based on Service Revenue $6900 Salaries and Wages Expense
The income statement of Blossom Co. for the month of July shows net income of 2,900 based on Service Revenue $6900 Salaries and Wages Expense $2100 Supplies Expense $1400 and Utilities Expense $500. In reviewing I discovered the following: 1. Insurance expired during July of $500 was omitted. 2. Supplies Expense includes $250 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $350 was omitted. 4. Accrued but unpaid Salaries and wages at July 31 of $400 were not included. 5. Services performed but unrecorded totaled $800. PREPARE A CORRECT INCOME STATEMENT FOR JULY 2020. HELP PLEASE
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