Debit Credit Cash 18,400   Bank 73,800   Purchase 39,520   Adam 1,680   Return Sales 920   Furniture 24,000   Withdrawal 480   Rent 2,000   Salaries 2,800   Capital   118,000 Sales   8,400 Syazwani – Supplier   12,640 Dinesh – Furniture Store   24,000 Return Purchase   560   163,600 163,600   Prepare Income statement

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

 

Debit

Credit

Cash

18,400

 

Bank

73,800

 

Purchase

39,520

 

Adam

1,680

 

Return Sales

920

 

Furniture

24,000

 

Withdrawal

480

 

Rent

2,000

 

Salaries

2,800

 

Capital

 

118,000

Sales

 

8,400

Syazwani – Supplier

 

12,640

Dinesh – Furniture Store

 

24,000

Return Purchase

 

560

 

163,600

163,600

 

Prepare Income statement

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education