Net income? Accounts Debit Credit (OMR) Cash Capital 100,000 Prepaid insurance Salary expense Service Revenue 21000 Commission revenue 41000 Machinery Automobiles Wages expense (OMR) 120,000 5600 1000 12400 16400 1200
Net income? Accounts Debit Credit (OMR) Cash Capital 100,000 Prepaid insurance Salary expense Service Revenue 21000 Commission revenue 41000 Machinery Automobiles Wages expense (OMR) 120,000 5600 1000 12400 16400 1200
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
Related questions
Question
![Net income?
Accounts
Debit
Credit
(OMR)
(OMR)
Cash
120,000
Capital
100,000
Prepaid insurance
5600
Salary expense
1000
Service Revenue
21000
Commission revenue
41000
Machinery
12400
Automobiles
16400
Wages expense
1200
Utilities expense
1500
Miscellaneous expense 500
Rent expense
600
Retained earnings
Advertising expense
4000
Dividend
10000
Note payable
Short term loan
Interest Payable
Accounts receivable
21200
Furniture
3000
Long term Loan
197400
11200
10000
10800
400
3000
197400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F26781084-b395-4918-bb4b-f9d0f0e75bc7%2F91d6047f-a0da-4159-b29a-d6b0fc147ab4%2F09glroh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Net income?
Accounts
Debit
Credit
(OMR)
(OMR)
Cash
120,000
Capital
100,000
Prepaid insurance
5600
Salary expense
1000
Service Revenue
21000
Commission revenue
41000
Machinery
12400
Automobiles
16400
Wages expense
1200
Utilities expense
1500
Miscellaneous expense 500
Rent expense
600
Retained earnings
Advertising expense
4000
Dividend
10000
Note payable
Short term loan
Interest Payable
Accounts receivable
21200
Furniture
3000
Long term Loan
197400
11200
10000
10800
400
3000
197400
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