Prepare the Statement of Comprehensive Income using single-step approach
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Prepare the Statement of Comprehensive Income using single-step approach

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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