PONDAMEN Assignment Gradebook ORION Downloadable eTextbook ent CALCULATORMESSAGE

Question

PONDAMEN Assignment Gradebook ORION Downloadable eTextbook ent CALCULATORMESSAGE MY INSTRUCTOR FULL SCREEN Exercise 2-8 (Part Level Submission) These financial statement items are for Skysong, Inc. at year-end, July 31, 2017 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue $ 3,980 58,500 16,600 20,400 4,100 67,100 9,500 3,700 16,000 30,800 Notes payable (due in 2020) Common stock Cash Accounts receivable 11,680 Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) 7,100 4,000 5,100 35,600 (al) Prepare an income statement for the year. Skysono. Inc. did not issue any new stock during the year. Skysong, Inc. Income Statement

Explanation / Answer

Prepare income statement :

Revenue Service revenue 67100 Rent revenue 9500 76600 Expenses : Depreciation expenses (5100) Salaries and wages expenses (58500) Supplies expenses (16600) Total expenses (80200) Net income (3600)

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