How do i prepare an income statement? Preparing an income statement - ExcelFILEHOMEINSERTPAGE LAYOUTFORMULASDATAREVIEWVIEWSign InCalibri11CH的。Alignment Number Conditional Format as CellFormatting Table StylesРasteBIU-CellsClipboardFantStylesA1The list below shows select accounts for Reading Readiness, Inc. as of January 31,ADhe list below shows select accounts for Reading Readiness, Inc. as of January 31, 20x1.Accounts are in alphabetical order.)4Accounts Payable8,088Accounts Receivable6,960Cash13,4454,800EquipmentIncome Tax ExpenseOperating Expense1,35011,80010Other Expenses3,48211Other Revenues6,05012Rent Expense4,800136,882Salaries ExpenseShort-term Notes PayableTest Prep RevenueTutoring RevenueUnearned Revenue1417,2001515,400169,100171,0461819lequired:20. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references24 o select account titles and amounts to be included on the income statement.22 iote: List revenues ond expenses in order of largest to smaliest dollar amounts. LIVJERIFUNVIULAUMIANEVIEVVIEVVCalibri11AAlignment Number Conditional Format asFormatting Table StylesPasteBIU.CellCellsClipboardFantStylesThe list below shows select accounts for Reading Readiness, inc. as of January 31,A1DE24. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or25 Net Loss" as appropriate based on the value calculated in cell C42.26READING READINESS, INC.Income StatementFor the Month Ended January 31, 20X127282930Revenues:31323334Total Revenues35Expenses:363738394041Total Expenses4243444546Sheet1READY曲+100%画

Income Statement: An income statement is a financial statement that details the income and expenses…

Preparing an income statement - Excel FILE HOME PAGE LAYOUT FORMULAS REVIEW Sign in INSERT DATA VIEW Calibri 11 Alignment Number Conditional Format as Cll Formatting Table Styles Paste BIU Cells Clipboard Font Styles The list below shows select accounts for Reading Readiness, Inc. as of January 31, A1 he list below showS select accounts for Reading Readiness, Inc. as of January 31, 20X1. Accounts are in alphabetical order.) Accounts Payable 8,088 Accounts Receivable 6,960 Cash 13,445 Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense 4,800 1,350 11,800 3,482 10 6,050 4,800 6,882 17,200 11 12 13 Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 14 15,400 9,100 15 16 17 1,046 18 19 lequired: . Prepare an Income Statement for the month ended January 31, 20X1. Use cell references o select account titles and amounts to be included on the income statement. 22 lote: List revenues and expenses in order of largest to smalliest dollar amounts. 20 21

Preparing an income statement - Excel FILE HOME PAGE LAYOUT FORMULAS REVIEW Sign in INSERT DATA VIEW Calibri 11 Alignment Number Conditional Format as Cll Formatting Table Styles Paste BIU Cells Clipboard Font Styles The list below shows select accounts for Reading Readiness, Inc. as of January 31, A1 he list below showS select accounts for Reading Readiness, Inc. as of January 31, 20X1. Accounts are in alphabetical order.) Accounts Payable 8,088 Accounts Receivable 6,960 Cash 13,445 Equipment Income Tax Expense Operating Expense Other Expenses Other Revenues Rent Expense 4,800 1,350 11,800 3,482 10 6,050 4,800 6,882 17,200 11 12 13 Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 14 15,400 9,100 15 16 17 1,046 18 19 lequired: . Prepare an Income Statement for the month ended January 31, 20X1. Use cell references o select account titles and amounts to be included on the income statement. 22 lote: List revenues and expenses in order of largest to smalliest dollar amounts. 20 21

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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