Selected accounts from Fair Trader Company's adjusted trial balance for the year ended December 31 follow. $450 Interest revenue 5,500 Salaries expense 80,000 Supplies expense 16,500 Bad debt expense Factoring fees Insurance expense Sales Rent expense Prepare its income statement. Revenues FAIR TRADER COMPANY Income Statement For Year Ended December 31 Total revenues Expenses Total expenses $ 4,500 37,000 350 2,500
Selected accounts from Fair Trader Company's adjusted trial balance for the year ended December 31 follow. $450 Interest revenue 5,500 Salaries expense 80,000 Supplies expense 16,500 Bad debt expense Factoring fees Insurance expense Sales Rent expense Prepare its income statement. Revenues FAIR TRADER COMPANY Income Statement For Year Ended December 31 Total revenues Expenses Total expenses $ 4,500 37,000 350 2,500
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...
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Please help with the Fair Trader Company data
![Selected accounts from Fair Trader Company's adjusted trial balance for the year ended December 31 follow.
$ 450 Interest revenue
5,500
Salaries expense
80,000 Supplies expense
16,500
Bad debt expense
Factoring fees
Insurance expense
Sales
Rent expense
Prepare its income statement.
Revenues
FAIR TRADER COMPANY
Income Statement
For Year Ended December 31
Total revenues
Expenses
Total expenses
$4,500
37,000
350
2,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3872d851-27db-40d9-8fe5-69d396345726%2F2401242a-810e-4e3c-986e-5310d4f6d7c8%2Fjy7gjw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Selected accounts from Fair Trader Company's adjusted trial balance for the year ended December 31 follow.
$ 450 Interest revenue
5,500
Salaries expense
80,000 Supplies expense
16,500
Bad debt expense
Factoring fees
Insurance expense
Sales
Rent expense
Prepare its income statement.
Revenues
FAIR TRADER COMPANY
Income Statement
For Year Ended December 31
Total revenues
Expenses
Total expenses
$4,500
37,000
350
2,500
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