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Prepare a single-step income statement for AJ’s Massage and Spa for the year ended December 31,2020 using the information listed below: Electricity Expense - ₱ 12,000 Other Charges - ₱ 6,600 Other Income - ₱ 20,000 Rent Expense - ₱ 60,000 Revenue - ₱ 900,000 Salaries Expense - ₱ 350,000 Supplies Expense - ₱ 50,000 Water Expense - ₱ 6,000

Prepare a single-step income statement for AJ’s Massage and Spa for the year ended December 31,2020 using the information listed below: Electricity Expense - ₱ 12,000 Other Charges - ₱ 6,600 Other Income - ₱ 20,000 Rent Expense - ₱ 60,000 Revenue - ₱ 900,000 Salaries Expense - ₱ 350,000 Supplies Expense - ₱ 50,000 Water Expense - ₱ 6,000

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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Prepare a single-step income statement for AJ’s Massage and Spa for the year ended December 31,2020 using the information listed below:

  • Electricity Expense - ₱ 12,000
  • Other Charges - ₱ 6,600
  • Other Income - ₱ 20,000
  • Rent Expense - ₱ 60,000
  • Revenue - ₱ 900,000
  • Salaries Expense - ₱ 350,000
  • Supplies Expense - ₱ 50,000
  • Water Expense - ₱ 6,000
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