The first and 5th columns are for expenses/ revenues And the last column is net

Question

The first and 5th columns are for expenses/ revenues And the last column is net income/ net loss... all in between are account payable/receivable, cash, common stock... etc The following information applies to the questions displayed below. you are the president of High Power Corporation. At the end of the frst year of operations (December 3n, the following financial data for the company are available: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies 10,150 13,700 59,498 1,990 7, 890 87,600 5,200 Required 1. Prepare an income stetement for the yeor ended December 3

Explanation / Answer

High Power Corporation Income statement For the year ended December 31 Revenue Sales revenue 87600 Total revenue 87600 Expense operating expense 58800 Other expense 7890 Total expense 66690 Net Income 20910

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.