Only the question on 6d photo thanks 4-a. Use the adjusted trial balance to prepare an income statement.RAINMAKER ENVIRONMENTAL CONSULTANT SIncome StatementFor Year Ended October 31, 2020Revenues:Total revenuesOperating expenses:Total operating expenses%24 Rainmaker Environmental Consultants Is Just finishing Its second year of operatlons. The company's unadjusted trial balance atOctober 31, 2020, follows:RAINMAKER ENVIRONMENTAL CONSULTANTSUnad justed Trial BalanceOctober 31, 2020AccountAcct.No.DebitCreditCashAccounts receivableInterest receivable$ 26,00061.800101106109111Notes receivable5e,eee126SuppliesPrepaid insurancePrepaid rentOffice furniture5,3003,40027,00084,eee128131161$ 28,80018, e0e162Accumulated depreciation, office furnitureAccounts payableWages payableUnearned consulting revenueJeff Moore, capitalJeff Moore, withdrawals20121023326,000223,00030130228,000401Consulting revenueInterest incone232,e20409480Depreciation expense, office furnitureWages expenseInsurance expense601622192,000637640Rent expenseSupplies expense44,eee6,8ee650Totals$ 527,5e0$ 527,500Rainmaker prepares adjustments each October 31. The following additional Information is avallable on October 31, 2020.a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned.b. It was discovered that $14,000 of the balance in the Consulting Revenue account was for services to be performed Iin November.C. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020.d. Accrued wages at October 31 totalled $6.800.e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, It isexpected that the fumiture will be worthless.f. Accrued consulting revenue at year-end totalled $4,200.g. Interest of $85 had accrued on the note recelvable for the month of October.h. The balance In the Prepald Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019.LA count of the supplies on October 31 revealed a balance remaining of $620.

Note: An income statement is a financial report that indicates the revenue and expenses of a…

Rainmaker Environmental Consultants Is Just finishing Its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: RAINMAKER ENVIRONMENTAL CONSULTANTS Unad justed Trlal Balance October 31, 2020 Account Acct. No. Debit $ 26,000 61,000 Credit 101 Cash 106 Accounts receivable 109 111 Interest receivable 5e, e00 5,300 3,400 27,e00 84,e00 Notes receivable 126 Supplies Prepaid insurance Prepaid rent Office furniture 128 131 161 162 201 210 233 301 302 401 $ 28,e00 18, e0e Accumulated depreciation, oftice furniture Accounts payable Wages payable Unearned consulting revenue Jeff Moore, capital Jeff Moore, withdrawals 26, 000 223,000 28,eee Consulting revenue Interest incone 232, e20 480 409 601 622 637 Depreciation expense, office furniture Wages expense Insurance expense 192,ee0 640 Rent expense Supplies expense 44,000 650 6,800 $ 527,500 Totals $ 527, 500 Rainmaker prepares adjustments each October 31. The following additional Information is avallable on October 31, 2020. a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance In the Consulting Revenue account was for services to be performed in November. c. The balance in the Prepald Rent account represents three months of rent beginning September 1, 2020. d. Accrued wages at October 31 totalled $6.800. e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, It is expected that the furniture will be worthless. f. Accrued consulting revenue at year-end totalled $4,200. g. Interest of $85 had accrued on the note recelvable for the month of October. h. The balance In the Prepald Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019. L.A count of the supples on October 31 revealed a balance remalning of $620.

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q