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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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How do i prepare an income statement?

Preparing an income statement - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 CH 的。 Alignment Number Conditional Format as Cell Formatting Table Styles Рaste BIU- Cells Clipboard Fant Styles A1 The list below shows select accounts for Reading Readiness, Inc. as of January 31, A D he list below shows select accounts for Reading Readiness, Inc. as of January 31, 20x1. Accounts are in alphabetical order.) 4 Accounts Payable 8,088 Accounts Receivable 6,960 Cash 13,445 4,800 Equipment Income Tax Expense Operating Expense 1,350 11,800 10 Other Expenses 3,482 11 Other Revenues 6,050 12 Rent Expense 4,800 13 6,882 Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 14 17,200 15 15,400 16 9,100 17 1,046 18 19 lequired: 20 . Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 24 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.
Transcribed Image Text:Preparing an income statement - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 CH 的。 Alignment Number Conditional Format as Cell Formatting Table Styles Рaste BIU- Cells Clipboard Fant Styles A1 The list below shows select accounts for Reading Readiness, Inc. as of January 31, A D he list below shows select accounts for Reading Readiness, Inc. as of January 31, 20x1. Accounts are in alphabetical order.) 4 Accounts Payable 8,088 Accounts Receivable 6,960 Cash 13,445 4,800 Equipment Income Tax Expense Operating Expense 1,350 11,800 10 Other Expenses 3,482 11 Other Revenues 6,050 12 Rent Expense 4,800 13 6,882 Salaries Expense Short-term Notes Payable Test Prep Revenue Tutoring Revenue Unearned Revenue 14 17,200 15 15,400 16 9,100 17 1,046 18 19 lequired: 20 . Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 24 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.
LIVJERI FUNVIULA UMIA NEVIEV VIEVV Calibri 11 A Alignment Number Conditional Format as Formatting Table Styles Paste BIU. Cell Cells Clipboard Fant Styles The list below shows select accounts for Reading Readiness, inc. as of January 31, A1 D E 24 . After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or 25 Net Loss" as appropriate based on the value calculated in cell C42. 26 READING READINESS, INC. Income Statement For the Month Ended January 31, 20X1 27 28 29 30 Revenues: 31 32 33 34 Total Revenues 35 Expenses: 36 37 38 39 40 41 Total Expenses 42 43 44 45 46 Sheet1 READY 曲 + 100% 画
Transcribed Image Text:LIVJERI FUNVIULA UMIA NEVIEV VIEVV Calibri 11 A Alignment Number Conditional Format as Formatting Table Styles Paste BIU. Cell Cells Clipboard Fant Styles The list below shows select accounts for Reading Readiness, inc. as of January 31, A1 D E 24 . After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or 25 Net Loss" as appropriate based on the value calculated in cell C42. 26 READING READINESS, INC. Income Statement For the Month Ended January 31, 20X1 27 28 29 30 Revenues: 31 32 33 34 Total Revenues 35 Expenses: 36 37 38 39 40 41 Total Expenses 42 43 44 45 46 Sheet1 READY 曲 + 100% 画
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