Prepare an annual income statement from the following adjusted trial balance. Oriole Enterprises Adjusted Trial Balance December 31, 2020 Account Debit Credit Cash $1,700 Accounts Receivable 13,600 Allowance for Doubtful Accounts $500 Prepaid Insurance 1,800 Equipment 28,000 Accumulated Depreciation 4,100 Notes Payable 10,400 Accounts Payable 3,000 Salaries and Wages Payable 1,600 Interest Payable 100 Common Stock 17,500 Retained Earnings 7,200 Dividends 2,300 Service Revenue 125,100 Salaries and Wages Expense 85,700 Rent Expense 22,400 Supplies Expense 6,000 Insurance Expense 4,200 Interest Expense 600 Bad Debt Expense 900 Depreciation Expense 2,300 $169,500 Oriole Enterprises Income Statement Year ended December 31, 2020
Prepare an annual income statement from the following adjusted trial balance. Oriole Enterprises Adjusted Trial Balance December 31, 2020 Account Debit Credit Cash $1,700 Accounts Receivable 13,600 Allowance for Doubtful Accounts $500 Prepaid Insurance 1,800 Equipment 28,000 Accumulated Depreciation 4,100 Notes Payable 10,400 Accounts Payable 3,000 Salaries and Wages Payable 1,600 Interest Payable 100 Common Stock 17,500 Retained Earnings 7,200 Dividends 2,300 Service Revenue 125,100 Salaries and Wages Expense 85,700 Rent Expense 22,400 Supplies Expense 6,000 Insurance Expense 4,200 Interest Expense 600 Bad Debt Expense 900 Depreciation Expense 2,300 $169,500 Oriole Enterprises Income Statement Year ended December 31, 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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^- Prepare an annual income statement from the following adjusted
| Oriole Enterprises Adjusted Trial Balance December 31, 2020 |
||||
|---|---|---|---|---|
| Account | Debit | Credit | ||
| Cash | $1,700 | |||
| 13,600 | ||||
| Allowance for Doubtful Accounts | $500 | |||
| Prepaid Insurance | 1,800 | |||
| Equipment | 28,000 | |||
| 4,100 | ||||
| Notes Payable | 10,400 | |||
| Accounts Payable | 3,000 | |||
| Salaries and Wages Payable | 1,600 | |||
| Interest Payable | 100 | |||
| Common Stock | 17,500 | |||
| 7,200 | ||||
| Dividends | 2,300 | |||
| Service Revenue | 125,100 | |||
| Salaries and Wages Expense | 85,700 | |||
| Rent Expense | 22,400 | |||
| Supplies Expense | 6,000 | |||
| Insurance Expense | 4,200 | |||
| Interest Expense | 600 | |||
| 900 | ||||
| Depreciation Expense | 2,300 | |||
| $169,500 |
| Oriole Enterprises Income Statement Year ended December 31, 2020 |
||||
|---|---|---|---|---|
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