The adjusted trial balance of Mark Cooper Co. as of December 31, 2020, contains the following. MARK COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $20,287 Accounts Receivable 7,735 Prepaid Rent 3,095 Equipment 18,865 Accumulated Depreciation-Equipment $5,710 Notes Payable 6,515 Accounts Payable 6,287 Common Stock 20,815 Retained Earnings 12,125 Dividends 3,815 Service Revenue 12,405 Salaries and Wages Expense 7,655 Rent Expense 2,198 Depreciation Expense 207 Interest Expense 145 Interest Payable 145 $64,002 $64,002 (a) Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MARK COOPER CO. Income Statement choose the accounting period select an opening name for section one enter an income statement item $enter a dollar amount select an opening name for section two enter an income statement item $enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount select a closing name for section two enter a total amount for section two select a closing name for this statement $enter a total net income or loss amount
The adjusted trial balance of Mark Cooper Co. as of December 31, 2020, contains the following. MARK COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $20,287 Accounts Receivable 7,735 Prepaid Rent 3,095 Equipment 18,865 Accumulated Depreciation-Equipment $5,710 Notes Payable 6,515 Accounts Payable 6,287 Common Stock 20,815 Retained Earnings 12,125 Dividends 3,815 Service Revenue 12,405 Salaries and Wages Expense 7,655 Rent Expense 2,198 Depreciation Expense 207 Interest Expense 145 Interest Payable 145 $64,002 $64,002 (a) Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MARK COOPER CO. Income Statement choose the accounting period select an opening name for section one enter an income statement item $enter a dollar amount select an opening name for section two enter an income statement item $enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount select a closing name for section two enter a total amount for section two select a closing name for this statement $enter a total net income or loss amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
The adjusted trial balance of Mark Cooper Co. as of December 31, 2020, contains the following.
|
MARK COOPER CO.
ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 |
||||||
|---|---|---|---|---|---|---|
|
Debit
|
Credit
|
|||||
|
Cash
|
$20,287 | |||||
|
|
7,735 | |||||
|
Prepaid Rent
|
3,095 | |||||
|
Equipment
|
18,865 | |||||
|
|
$5,710 | |||||
|
Notes Payable
|
6,515 | |||||
|
Accounts Payable
|
6,287 | |||||
|
Common Stock
|
20,815 | |||||
|
|
12,125 | |||||
|
Dividends
|
3,815 | |||||
|
Service Revenue
|
12,405 | |||||
|
Salaries and Wages Expense
|
7,655 | |||||
|
Rent Expense
|
2,198 | |||||
|
Depreciation Expense
|
207 | |||||
|
Interest Expense
|
145 | |||||
|
Interest Payable
|
145 | |||||
|
$64,002
|
$64,002
|
(a)
Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
|
MARK COOPER CO.
Income Statement choose the accounting period |
||
|---|---|---|
|
select an opening name for section one
|
||
|
enter an income statement item
|
$enter a dollar amount
|
|
|
select an opening name for section two
|
||
|
enter an income statement item
|
$enter a dollar amount
|
|
|
enter an income statement item
|
enter a dollar amount
|
|
|
enter an income statement item
|
enter a dollar amount
|
|
|
enter an income statement item
|
enter a dollar amount
|
|
|
select a closing name for section two
|
enter a total amount for section two
|
|
|
select a closing name for this statement
|
$enter a total net income or loss amount
|
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