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As of December 31 of the current year, records show the following. Cash Accounts receivable Office supplies Land Accounts payable Wages payable Notes payable Consulting revenue Rental revenue Wages expense Interest expense Advertising expense Selling and administrative expenses $13,000 10,500 7,500 6,500 3,500 14,000 4,500 37,500 25,000 21,500 2,500 13,500 9,500 Prepare the income statement for the current year ended December 31. Revenues Total revenues Expenses Income Statement For Current Year Ended December 31

As of December 31 of the current year, records show the following. Cash Accounts receivable Office supplies Land Accounts payable Wages payable Notes payable Consulting revenue Rental revenue Wages expense Interest expense Advertising expense Selling and administrative expenses $13,000 10,500 7,500 6,500 3,500 14,000 4,500 37,500 25,000 21,500 2,500 13,500 9,500 Prepare the income statement for the current year ended December 31. Revenues Total revenues Expenses Income Statement For Current Year Ended December 31

FINANCIAL ACCOUNTING
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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As of December 31 of the current year, records show the following. Cash Accounts receivable Office supplies Land Accounts payable Wages payable Notes payable Consulting revenue Rental revenue Wages expense Interest expense Advertising expense Selling and administrative expenses $13,000 10,500 7,500 6,500 3,500 14,000 4,500 37,500 25,000 21,500 2,500 13,500 9,500 Prepare the income statement for the current year ended December 31. Revenues Total revenues Expenses Income Statement For Current Year Ended December 31
Transcribed Image Text:As of December 31 of the current year, records show the following. Cash Accounts receivable Office supplies Land Accounts payable Wages payable Notes payable Consulting revenue Rental revenue Wages expense Interest expense Advertising expense Selling and administrative expenses $13,000 10,500 7,500 6,500 3,500 14,000 4,500 37,500 25,000 21,500 2,500 13,500 9,500 Prepare the income statement for the current year ended December 31. Revenues Total revenues Expenses Income Statement For Current Year Ended December 31
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