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Prepare the Statement of Comprehensive Income using single-step approach

Prepare the Statement of Comprehensive Income using single-step approach

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 the Statement of Comprehensive Income using single-step approach 

Transactions Amount Account Title Service rendered for the consultation 45,000.00 Service Income given to various customers Payment of the electricity bill. Paid the salaries of employees 1,000.00 10,000.00 2,500.00 Utility Expense Salaries Expense Transportation Expense Gains from sales of Gasoline Allowance for Mr. Juan Sales of junk items 3,500.00 Junk Received rental payment from the lessee 5,000.00 Rental Income Telephone bill for the month was paid Gains from the sale of equipment 1,500.00 2,500.00 Telephone Expense Gains from the sales of Equipment Interest Income Interest received from the customers on 1,000.00 the matures accounts receivable Bought supplies for the month, and all were consumed. 3,000.00 Supplies Expense Insurance of employees expires for 500.00 Insurance Expense June
Transcribed Image Text:Transactions Amount Account Title Service rendered for the consultation 45,000.00 Service Income given to various customers Payment of the electricity bill. Paid the salaries of employees 1,000.00 10,000.00 2,500.00 Utility Expense Salaries Expense Transportation Expense Gains from sales of Gasoline Allowance for Mr. Juan Sales of junk items 3,500.00 Junk Received rental payment from the lessee 5,000.00 Rental Income Telephone bill for the month was paid Gains from the sale of equipment 1,500.00 2,500.00 Telephone Expense Gains from the sales of Equipment Interest Income Interest received from the customers on 1,000.00 the matures accounts receivable Bought supplies for the month, and all were consumed. 3,000.00 Supplies Expense Insurance of employees expires for 500.00 Insurance Expense June
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