Solution-Prepare an income statement for new york safety

Prepare an income statement for new york safety fire

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Reference no: EM133068930

Problem - Below is financial data for New York Safety Fire as of 31 December 2021:

Cash at bank	$100,000	Truck	$65,000
Accrued wages	25,000	Michael Corleone, capital 1 January, 2021	38,000
Accounts receivable	55,000	Depreciation expense-truck	3,000
Insurance expense	30,000	Advertising expense	5,000
Accounts payable	15,000	Wages expense	45,000
Service revenue	180,000	Michael Corleone, drawings	1,500
Insurance payable	25,000	Supplies expense	28,000
Telephone expense	8,000	Loan payable	38,000
Office Furniture	70,000	Accrued interest	1,000
Prepaid Advertising	20,000	Accumulated depreciation-truck	12,000
Unearned Revenue	15,000	Supplies	44,000

Required - Prepare an income statement for New York Safety Fire for the month ended 31 December 2021.

Reference no: EM133068930

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Prepare an income statement for new york safety fire

Reference no: EM133068930

Reference no: EM133068930

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