Week 2 Excel Assignument\ Question 1 of 1\

(-)/(10)

\ ] can\ okta\ Current Attempt in Progress\ The income statement of Ivanhoe Co. for the month of July shows net income of

$3,300

based on Service Revenue

$6,800

, Salaries and Wages Expense

$2,000

, Supplies Expense

$1,000

, and Utilities Expense

$500

. In reviewing the statement, you discover the following.\ Insurance expired during July of

$600

was omitted.\ Supplies expense includes

$250

of supplies that are still on hand at July 31 .\ Depreciation on equipment of

$150

was omitted.\ Unpaid salaries and wages at July 31 of

$300

were not included.\ Services performed but unrecorded totaled

$500

.\ Prepare a correct income statement for July 2022.\

The income statement of Ivanhoe Co. for the month of July shows net income of $3,300 based on Service Revenue $6,800, Salaries and Wages Expense $2,000, Supplies Expense $1,000, and Utilities Expense $500. In reviewing the statement, you discover the following. 1. Insurance expired during July of $600 was omitted: 2. Supplies expense includes $250 of supplies that are still on hand at July 31 . 3. Depreciation on equipment of $150 was omitted. 4. Unpaid salaries and wages at July 31 of $300 were not included. 5. Services performed but unrecorded totaled $500