The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an additional $10,000 during the year. Net income for the year is $45,625. Accounts Amounts Accounts Amounts Accounts payable $23,760 $4,375 Spa operating expense Office expense Accounts receivable 8,490 2,470 Spa supplies Cash 13,980 9,230 Wages expense 26,580 Fees earned ??? Spa furniture and equipment 56,000 Drawing 38,170 Computers 2,130 Required: Prepare an income statement for the current year ended December 31. Refer to the lists of Accounts in the information given, Labels, and Prepare an income statement for the current year ended December 31. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. You will not need to enter colons () on the income statement. Rocky's Day Spa Income Statement (Label) 1 2 (Label) 3 4 5 6 7

The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an additional $10,000 during the year. Net income for the year is $45,625. Accounts Amounts Accounts Amounts Accounts payable $23,760 $4,375 Spa operating expense Office expense Accounts receivable 8,490 2,470 Spa supplies Cash 13,980 9,230 Wages expense 26,580 Fees earned ??? Spa furniture and equipment 56,000 Drawing 38,170 Computers 2,130 Required: Prepare an income statement for the current year ended December 31. Refer to the lists of Accounts in the information given, Labels, and Prepare an income statement for the current year ended December 31. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. You will not need to enter colons () on the income statement. Rocky's Day Spa Income Statement (Label) 1 2 (Label) 3 4 5 6 7

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

income statement

The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an
additional $10,000 during the year. Net income for the year is $45,625.
Accounts
Amounts
Accounts
Amounts
Accounts payable
$23,760
$4,375
Spa operating expense
Office expense
Accounts receivable
8,490
2,470
Spa supplies
Cash
13,980
9,230
Wages expense
26,580
Fees earned
???
Spa furniture and equipment
56,000
Drawing
38,170
Computers
2,130
Required:
Prepare an income statement for the current year ended December 31. Refer to the lists of Accounts in the information given, Labels, and

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