Accounts Fees earned Wages expense Rent expense Supplies expense Miscellaneous e

Question

Accounts Fees earned Wages expense Rent expense Supplies expense Miscellaneous expense $487,000 34,000 1,800 Prepare an income statement for the month ended March 31, 2018. 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. A colon () will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign.

Explanation / Answer

Income statement :

Revenue Fees earned 487000 Total revenue 487000 Expense Wages expense 334000 Rent expense 34000 Supplies expense 4500 Miscellaneous expense 1800 Total expense 374300 Net income 112700

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