As of December 31 of the current year, Armani Company’s records show the following. Hint: The owner invested $2,700 cash during the year.   Required: Prepare the income statement for Armani Company for the current year ended December 31.   Cash $ 11,700 Accounts receivable 10,700 Supplies 7,700 Equipment 6,700 Accounts payable 14,400 Armani, Capital, December 31, prior year 17,700 Armani, Capital, December 31, current year 22,400 Armani, Withdrawals 14,700 Consulting revenue 36,400 Rental revenue 25,400 Salaries expense 21,700 Rent expense 13,700 Selling and administrative expenses 9,700

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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As of December 31 of the current year, Armani Company’s records show the following. Hint: The owner invested $2,700 cash during the year.
 

Required:
Prepare the income statement for Armani Company for the current year ended December 31.

 
Cash $ 11,700
Accounts receivable 10,700
Supplies 7,700
Equipment 6,700
Accounts payable 14,400
Armani, Capital, December 31, prior year 17,700
Armani, Capital, December 31, current year 22,400
Armani, Withdrawals 14,700
Consulting revenue 36,400
Rental revenue 25,400
Salaries expense 21,700
Rent expense 13,700
Selling and administrative expenses 9,700

 

 
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