M On May 31, 2012, Deana’s Services Company had account balances as follows: Accounts Payable 9,900 Accounts receivable 26,950 Cash Fees earned 1,390 Insurance expense 70,800 Building 225,000 Accumulated depreciation 75,000 Land 174,400 Miscellaneous expense 1,510 Prepaid insurance 2,000 Short-term mortgage payable 20,000 Long-term mortgage payable 230,000 Rent expense 8,000 Salary expense 35,300 Dividends 15,100 Supplies 950 Supplies expense 825 Utilities expense 3,800 Capital stock 81,000 Retained earnings (beginning balance on May 1, 2012) 20,000 Present, in good form, (a) an income statement for May (a) Deana’s Services Company Income Statement For the Month Ended May 31, 2012 __
M On May 31, 2012, Deana’s Services Company had account balances as follows:
|
Accounts Payable |
9,900 |
|
Accounts receivable |
26,950 |
|
Cash |
|
|
Fees earned |
1,390 |
|
Insurance expense |
70,800 |
|
Building |
225,000 |
|
|
75,000 |
|
Land |
174,400 |
|
Miscellaneous expense |
1,510 |
|
Prepaid insurance |
2,000 |
|
Short-term mortgage payable |
20,000 |
|
Long-term mortgage payable |
230,000 |
|
Rent expense |
8,000 |
|
Salary expense |
35,300 |
|
Dividends |
15,100 |
|
Supplies |
950 |
|
Supplies expense |
825 |
|
Utilities expense |
3,800 |
|
Capital stock |
81,000 |
|
|
20,000 |
Present, in good form, (a) an income statement for May
|
(a) Deana’s Services Company Income Statement For the Month Ended May 31, 2012 |
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
__
___________________________________________________________________ |
|
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
