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The accounts listed below appeared in the December 31 trial balance of the Metlock Theater. (b) Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (1) (2) (3) (4) Interest Expense Admissions Revenue Advertising Expense $202,416 What amounts should be shown for each of the following on the income statement for the year? $ Debit $ Salaries and Wages Expense $ 15,470 57,820 2.520 Credit $63,040 162,000 385,000

The accounts listed below appeared in the December 31 trial balance of the Metlock Theater. (b) Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (1) (2) (3) (4) Interest Expense Admissions Revenue Advertising Expense $202,416 What amounts should be shown for each of the following on the income statement for the year? $ Debit $ Salaries and Wages Expense $ 15,470 57,820 2.520 Credit $63,040 162,000 385,000

FINANCIAL ACCOUNTING
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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The accounts listed below appeared in the December 31 trial balance of the Metlock Theater. (b) Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (1) (2) (3) (4) Interest Expense Admissions Revenue What amounts should be shown for each of the following on the income statement for the year? Advertising Expense Salaries and Wages Expense $202,416 SA LA Debit S SA 15,470 57,820 2.520 Credit $63,040 162,000 385,000
Transcribed Image Text:The accounts listed below appeared in the December 31 trial balance of the Metlock Theater. (b) Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense (1) (2) (3) (4) Interest Expense Admissions Revenue What amounts should be shown for each of the following on the income statement for the year? Advertising Expense Salaries and Wages Expense $202,416 SA LA Debit S SA 15,470 57,820 2.520 Credit $63,040 162,000 385,000
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