Kimmel, Accounting, 6e Help I System Announcements ES Exercise 2-8 (Part Level S

Question

Kimmel, Accounting, 6e Help I System Announcements ES Exercise 2-8 (Part Level Submission) These financal statement items are for Tamarisk, Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense $3,480 58,800 17,400 19,900 4,100 67,400 10,300 3,600 16,000 30,500 11,580 8,000 4,000 6,000 35,300 a Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year)

Explanation / Answer

RUGEN COMPANY Income Statement For the Year Ended July 31, 2017 Revenues Service revenue 67400 Rent revenue 10300 Total revenues 77700 Expenses Salaries and wages expense . 58800 Supplies expense . 17400 Depreciation expense . 6000 Total expense . 82200 Net loss . -4500

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