Homework Help is Here – Start Your Trial Now!
Business
Accounting
Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ $ $

Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ $ $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

please answer do not  image format

Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ $ $
Transcribed Image Text:Prepare the income statement for the year. ORIOLE COMPANY Income Statement $ $ $
The trial balances before and after adjustment for Oriole Company at the end of its fiscal year are presented below. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense ORIOLE COMPANY Trial Balance August 31, 2022 Insurance Expense Depreciation Expense Before Adjustment Dr. $10,000 9,000 2,500 3,800 14,300 16,900 0 15,200 0 0 $71,700 Cr. $ 3,500 5,700 0 1,500 16,200 33,800 11,000 After Adjustment Dr. $10,000 10,000 500 2,500 14,300 18,300 2,000 15,200 1,300 900 $71,700 $75,000 Cr. $ 4,400 5,700 1,400 800 16,200 34,800 11,700 $75,000
Transcribed Image Text:The trial balances before and after adjustment for Oriole Company at the end of its fiscal year are presented below. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense ORIOLE COMPANY Trial Balance August 31, 2022 Insurance Expense Depreciation Expense Before Adjustment Dr. $10,000 9,000 2,500 3,800 14,300 16,900 0 15,200 0 0 $71,700 Cr. $ 3,500 5,700 0 1,500 16,200 33,800 11,000 After Adjustment Dr. $10,000 10,000 500 2,500 14,300 18,300 2,000 15,200 1,300 900 $71,700 $75,000 Cr. $ 4,400 5,700 1,400 800 16,200 34,800 11,700 $75,000
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS