Use your adjusted trial balance to prepare Single Step Income Statement

Sport RUS Worksheet For the period ending 30.6.2019 Adjusting Enteries Date Particulars 30.6.2019 Interest Expense Interest Payable (Interest accrued) Debit in $ Credit in $ 300 300 2800 30.6.2019 Depreciation Expense Accum.Depre - Equip. (To record depreciation) 2800 4300 30.6.2019 Salaries Expense Salaries Payable (Salary accrued) 4300 200 200 30.6.2019 Insurance Expense Prepaid Insurance (Insurance expired) 30.6.2019 Office Supplies Expense Office Supplies (Supplies used) Account Title Cash Accounts Receivable Prepaid Insurance Office Supplies Merchandise Inventory Property, Plant & Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Salaries Payable Interest Payable Bank Loan Common Stock Retained Earnings Dividends Service Revenue Sales Revenue Cost of goods sold Maintenance Expense Rent Expense Telephone Expense Salaries Expense Office Supplies Expense Interest Expense Insurance Expense Depreciation Expense Totals Net Income Totals Unadjusted Trial Bal. Adjustments Adjusted Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ 55000 55000 12500 12500 11650 200 11450 6700 3500 3200 11500 450 11050 106000 106000 23000 2800 25800 32750 32750 4200 4200 4300 4300 300 300 21000 21000 70000 70000 35500 35500 2500 2500 24250 24250 13500 13500 8750 450 9200 0 2900 2900 650 650 5750 4300 10050 3500 3500 300 300 600 200 200 2800 2800 224200 224200 11550 11550 231600 231600 3500 3500 450 30.6.2019 Cost of goods sold Inventory (To record cost of goods sold) 450 224200 224200 11550 11550 231600 231600 f) Basic Corporate Financial Statements SPORTS RUS Income Statement For the Month Ended June 30, 2019 Service Revenue Sales Revenue Total Revenues SPORTS RUS Balance Sheet As at June 30, 2019 Assets Cash Operating Expenses: Total Assets Liabilities Accounts Payable Total Operating Expenses Total Liabilities Net Income (Loss) SO Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Check figure: Net Income $7,850 12 points 0 Liabilities + Owner's Equity Check Figure: Total Assets $173,400 15 points SPORTS RUS Statement of Retained Earnings For the Month Ended June 30, 2019 Beginning Retained Earnings Add: Net Income Subtotal Less: Dividends Declared Ending Retained Earnings