Below are the account balances for Cowboy Law Firm at the end of December. Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Required: Use only the appropriate accounts to prepare an income statement. Answer is complete but not entirely correct. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Service revenue $ $ 5,400 8 9,300 Cash Expenses: Salaries expense 2,200 Utilities expense 1,200 Supplies 13,800 8 Accounts payable 3,400 Total expenses 20,600 Net loss $ 5,900

Below are the account balances for Cowboy Law Firm at the end of December. Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Required: Use only the appropriate accounts to prepare an income statement. Answer is complete but not entirely correct. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Service revenue $ $ 5,400 8 9,300 Cash Expenses: Salaries expense 2,200 Utilities expense 1,200 Supplies 13,800 8 Accounts payable 3,400 Total expenses 20,600 Net loss $ 5,900

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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