Question
The income statement of Marigold Corp. for the month of July shows net income of $2,600 based on Service Revenue $6,000, Salaries and Wages Expense
The income statement of Marigold Corp. for the month of July shows net income of $2,600 based on Service Revenue $6,000, Salaries and Wages Expense $2,000, Supplies Expense $1,000, and Utilities Expense $400. In reviewing the statement, you discover the fo Insurance expired during July of $300 was omitted. 1. 2. Supplies expense includes $350 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 $200 were not included. 5. Services performed but unrecorded totaled $500. Prepare a correct income statement for July 2019. Marigold Corp. Income Statement
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