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Below are the accounts of Comfort Room Spa Clinic for the year ended June 30, 2020. Compute for the net income using a single-step approach of the statement of comprehensive income. P 300,000 30,000 8,000 Clinic fee Rent Income Dividends Income Gain On Sale Of Equipment 3,000 Interest Income 4,000 Salaries 50,000 Rent 10,000 Denreciation 50.000

Below are the accounts of Comfort Room Spa Clinic for the year ended June 30, 2020. Compute for the net income using a single-step approach of the statement of comprehensive income. P 300,000 30,000 8,000 Clinic fee Rent Income Dividends Income Gain On Sale Of Equipment 3,000 Interest Income 4,000 Salaries 50,000 Rent 10,000 Denreciation 50.000

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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Below are the accounts of Comfort Room Spa Clinic for the year ended June 30, 2020. Compute for the net income using a single-step approach of the statement of comprehensive income. P 300,000 30,000 8,000 3,000 Clinic fee Rent Income Dividends Income Gain On Sale Of Equipment 4,000 50,000 10,000 Interest Income Salaries Rent De preciation Supplies 50,000 7,000 Insurance Loss On Sale Of Equipment Interest Expense 5,000 2,000 2,000 ' Remember: 1. Follow the format of the of the single-step approach. 2. Please make the proper indention of accounts as you write them in the SCI.
Transcribed Image Text:Below are the accounts of Comfort Room Spa Clinic for the year ended June 30, 2020. Compute for the net income using a single-step approach of the statement of comprehensive income. P 300,000 30,000 8,000 3,000 Clinic fee Rent Income Dividends Income Gain On Sale Of Equipment 4,000 50,000 10,000 Interest Income Salaries Rent De preciation Supplies 50,000 7,000 Insurance Loss On Sale Of Equipment Interest Expense 5,000 2,000 2,000 ' Remember: 1. Follow the format of the of the single-step approach. 2. Please make the proper indention of accounts as you write them in the SCI.
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