Question 19 These items are taken from the finandial statements of Skysong, Inc.

Question

Question 19 These items are taken from the finandial statements of Skysong, Inc. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $34,810 2,130 69,810 21,880 14,450 4,470 12,000 12,000 70,720 4,970 1,670 3,290 15,280 2,510 39,720 21,950

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Skysong Inc Income Statement For the year ended Dec 31 2017 Paticulars Amount Amount Revenues Service revenue                       70,720.00 Expenses: Utilities expense                 2,130.00 Maintenance and repair expense                 1,670.00 Depreciation expense                 3,290.00 Insurance expense                 2,510.00 Salaries and wages expense              39,720.00 Total expenses                       49,320.00 Income                       21,400.00

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