Rebecca’s Office Supplies on 12 July 2001 for the financial year.AccountAmountInventory72,300Accounts Payable16,540Loan23,400Sales Revenue160,400Prepaid Insurance9,100Rebecca, Drawings2,700Shop fittings54,800Advertising Expense12,400Rebecca capital115,460Cash on Hand2,100Unearned Revenue670Interest Expense970Cash at Bank27,300Wages Expense134,800Prepare an income statement for the business using the above information.

Income statement is the financial statement which is prepared for the purpose of analyzing the…

Answered: Rebecca’s Office Supplies on 12 July…

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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Rebecca’s Office Supplies on 12 July 2001 for the financial year.

Account	Amount
Inventory	72,300
Accounts Payable	16,540
Loan	23,400
Sales Revenue	160,400
Prepaid Insurance	9,100
Rebecca, Drawings	2,700
Shop fittings	54,800
Advertising Expense	12,400
Rebecca capital	115,460
Cash on Hand	2,100
Unearned Revenue	670
Interest Expense	970
Cash at Bank	27,300
Wages Expense	134,800

Prepare an income statement for the business using the above information.

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