Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned Income tax expense Income tax payable Insurance expense Prepaid insurance Rent expense Retained earnings Salaries expense Salaries payable Supplies Supplies expense Utilities expense $14,100 29,100 7,600 19.100 11,650 5.500 (a) 3.100 Prepare a statement of income for the year. 26,200 99,400 5,900 5.650 4,600 3,600 7,100 22.100 48,600 4,100 3,200 During the year ended March 31, 2024, common shares were issued for $6,100. 5.100 3.500 SHEFFIELD CORPORATION Statement of Income
Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned Income tax expense Income tax payable Insurance expense Prepaid insurance Rent expense Retained earnings Salaries expense Salaries payable Supplies Supplies expense Utilities expense $14,100 29,100 7,600 19.100 11,650 5.500 (a) 3.100 Prepare a statement of income for the year. 26,200 99,400 5,900 5.650 4,600 3,600 7,100 22.100 48,600 4,100 3,200 During the year ended March 31, 2024, common shares were issued for $6,100. 5.100 3.500 SHEFFIELD CORPORATION Statement of Income
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 14E
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