Homework Help is Here – Start Your Trial Now!
Business
Accounting
Till La Hok Computer Services Trial Balance January 31, 2020 Debit Credit Cash P382,460 Accounts Receivable 92,000 Supplies 67,000 Office Equipment 700,000 Accounts Payable P980 Lok, Capital 947,000 Service Revenue 297,000 Utilities Expense 3,520 TOTALS P1.244,980 P1,244,980

Till La Hok Computer Services Trial Balance January 31, 2020 Debit Credit Cash P382,460 Accounts Receivable 92,000 Supplies 67,000 Office Equipment 700,000 Accounts Payable P980 Lok, Capital 947,000 Service Revenue 297,000 Utilities Expense 3,520 TOTALS P1.244,980 P1,244,980

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Create an Income Statement for Till La Hok Computer Services. The other picture is just a sample for the format

Paste Normal Fomat Parter EE BMege & Certer Conditionsl Format sheCe Formetting Tble Clipboard Font Alanment Nunber G8 A B. D E H. 1. 2. 3. 4 Modern Laundry Center Income Statement For the Period Ended December 31, 2016 P 175,300 9 Laundry Services Income 10 Less: "Cost of Laundry Service Direct Labor - salaries Laundry Supplies Utilities Expense P 16, 000 11, 800 11 12 3, 500 31,300 13 144, 000 14 Gross Profit 15 Less: *Operating Expense Rent Expense Taxes & Licenses 3,000 5,000 16 8,000 17 18 P.136,000 19 Net Income 20 21 22 23 24 ba3nce she NCOME STATEMENT
Transcribed Image Text:Paste Normal Fomat Parter EE BMege & Certer Conditionsl Format sheCe Formetting Tble Clipboard Font Alanment Nunber G8 A B. D E H. 1. 2. 3. 4 Modern Laundry Center Income Statement For the Period Ended December 31, 2016 P 175,300 9 Laundry Services Income 10 Less: "Cost of Laundry Service Direct Labor - salaries Laundry Supplies Utilities Expense P 16, 000 11, 800 11 12 3, 500 31,300 13 144, 000 14 Gross Profit 15 Less: *Operating Expense Rent Expense Taxes & Licenses 3,000 5,000 16 8,000 17 18 P.136,000 19 Net Income 20 21 22 23 24 ba3nce she NCOME STATEMENT
Accessibility Mode Till La Hok Computer Services Trial Balance January 31, 2020 Debit Credit Cash P382,460 Accounts Receivable 92,000 Supplies 67,000 Office Equipment 700,000 Accounts Payable P980 Lok, Capital 947,000 Service Revenue 297,000 Utilities Expense 3,520 TOTALS P1.244,980 P1,244,980 INCOME STATEMENT
Transcribed Image Text:Accessibility Mode Till La Hok Computer Services Trial Balance January 31, 2020 Debit Credit Cash P382,460 Accounts Receivable 92,000 Supplies 67,000 Office Equipment 700,000 Accounts Payable P980 Lok, Capital 947,000 Service Revenue 297,000 Utilities Expense 3,520 TOTALS P1.244,980 P1,244,980 INCOME STATEMENT
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS