I REPEAT. TYPEWRITTEN ONLY ANSWERSDO NOT ANSWER IF YOU ALREADY ANSWERED THIS.DO THIS TYPEWRITTEN ONLY. I'LL UPVOTEDOWNVOTE IF HANDWRITTEN THANK YOU. Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of itsfirst year of operations shown below:Donald ElectronicsTrial BalanceApril 30, 2019Cash3,450Accounts Receivable22,500Supplies5,400Equipment113,700Accounts Payable5,250Unearned Fees6,000Hans Donald, CapitalHans Donald, Drawings78,0004,500Fees earned135, 750Salaries Expense31,500Rent ExpenseUtilities Expense24,00017,250Miscellaneous Expense2,700225,000 P225,000For preparing the adjusting entries, the following data were assembled:a. Fees earned but unbilled on April 30 were P1,775.b. Supplies on hand on April 30 were P1,200.c. Depreciation of equipment was estimated to be P4,100 for the year.d. The balance in unearned fees represented the April 1 receipt in advance for services to beprovided. Only P1,750 of the services was provided between April 1 and April 30.e. Unpaid wages accrued on April 30 were P600.Required:3. Prepare Income Statement.

Income Statement Revenues: Fees Earned 139,275 Total Revenues 139,275…

Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of its first year of operations shown below: Donald Electronics Trial Balance April 30, 2019 Cash 3,450 Accounts Receivable 22,500 Supplies Equipment 5,400 113,700 Accounts Payable P 5,250 Unearned Fees 6,000 Hans Donald, Capital 78,000 Hans Donald, Drawings 4,500 Fees earned 135, 750 Salaries Expense 31,500 Rent Expense 24,000 Utilities Expense Miscellaneous Expense 17,250 2,700 225,000 P 225,000 For preparing the adjusting entries, the following data were assembled: a. Fees earned but unbilled on April 30 were P1,775. b. Supplies on hand on April 30 were P1,200. c. Depreciation of equipment was estimated to be P4,100 for the year. d. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only P1,750 of the services was provided between April 1 and April 30. e. Unpaid wages accrued on April 30 were P600. Required: 3. Prepare Income Statement.

Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of its first year of operations shown below: Donald Electronics Trial Balance April 30, 2019 Cash 3,450 Accounts Receivable 22,500 Supplies Equipment 5,400 113,700 Accounts Payable P 5,250 Unearned Fees 6,000 Hans Donald, Capital 78,000 Hans Donald, Drawings 4,500 Fees earned 135, 750 Salaries Expense 31,500 Rent Expense 24,000 Utilities Expense Miscellaneous Expense 17,250 2,700 225,000 P 225,000 For preparing the adjusting entries, the following data were assembled: a. Fees earned but unbilled on April 30 were P1,775. b. Supplies on hand on April 30 were P1,200. c. Depreciation of equipment was estimated to be P4,100 for the year. d. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only P1,750 of the services was provided between April 1 and April 30. e. Unpaid wages accrued on April 30 were P600. Required: 3. Prepare Income Statement.

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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