Flower Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operations for the company. The following data have been assembled for the business: E (Click the icon to view the assembled data.) Prepare the income statement of Flower Arrangements for the year ended December 31, 2024. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Data Table Insurance Expense $ 4,000 Salaries Expense 2$ 40,000 Service Revenue 75,000 Accounts Payable 6,200 Utilities Expense 600 Office Supplies 2,000 Rent Expense 13,000 Ruth, Withdrawals 1,800 Ruth, Capital, Jan. 1, 2024 12,500 Accounts Receivable 6,000 Cash 3,800 Equipment 28,200 Owner contribution during the year 5,700 Net Income Print Done
Flower Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operations for the company. The following data have been assembled for the business: E (Click the icon to view the assembled data.) Prepare the income statement of Flower Arrangements for the year ended December 31, 2024. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Data Table Insurance Expense $ 4,000 Salaries Expense 2$ 40,000 Service Revenue 75,000 Accounts Payable 6,200 Utilities Expense 600 Office Supplies 2,000 Rent Expense 13,000 Ruth, Withdrawals 1,800 Ruth, Capital, Jan. 1, 2024 12,500 Accounts Receivable 6,000 Cash 3,800 Equipment 28,200 Owner contribution during the year 5,700 Net Income Print Done
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Flower Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operations for the company. The following data have been assembled for the business:
E (Click the icon to view the assembled data.)
Prepare the income statement of Flower Arrangements for the year ended December 31, 2024. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.)
Data Table
Insurance Expense
$
4,000
Salaries Expense
$
40,000
Service Revenue
75,000
Accounts Payable
6,200
Utilities Expense
600
Office Supplies
2,000
Rent Expense
13,000
Ruth, Withdrawals
1,800
Ruth, Capital, Jan. 1, 2024
12,500
Accounts Receivable
6,000
Cash
3,800
Equipment
28,200
Owner contribution during the year
5,700
Net Income
Print
Done
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