Accounts Les expense mts payable med earnings cies expense ies ce revenue n stock Balances $4,200 1,600 2,200 4,400 1,100 12,600 8,100 4,800

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below are the account balances for Cowboy Law Firm at the end of
December.
Accounts
Cash
Salaries expense
Accounts payable
Retained earnings
Utilities expense
Supplies
Service revenue
Common stock
Expenses:
Balances
$ 4,200
1,600
2,200
Total expenses
4,400
1,100
Required:
Use only the appropriate accounts to prepare an income statement.
12,600
8,100
4,800
COWBOY LAW FIRM
Income Statement
For the Period Ended December 31
Transcribed Image Text:Below are the account balances for Cowboy Law Firm at the end of December. Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Expenses: Balances $ 4,200 1,600 2,200 Total expenses 4,400 1,100 Required: Use only the appropriate accounts to prepare an income statement. 12,600 8,100 4,800 COWBOY LAW FIRM Income Statement For the Period Ended December 31
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