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Prepare the income statement for the year ended august 31

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Reference no: EM132381906

Question

The adjusted trial balance for Cullumber Company is given below:

CULLUMBER COMPANY Trial Balance August 31, 2022Before

Adjustment After

Adjustment

Dr.Cr.Dr.Cr.Cash$10,940$10,940

Accounts Receivable8,6909,420

Supplies2,5301,390

Prepaid  Insurance4,4703,090

Equipment15,00015,000

Accumulated Depreciation-Equipment$3,375$4,575

Accounts Payable5,4205,420

Salaries and Wages Payable01,390

Unearned Rent Revenue1,9101,100

Common Stock16,45016,450

Retained Earnings5,2005,200

Dividends2,9202,920

Service Revenue32,03032,760

Rent Revenue12,04012,850

Salaries and Wages Expense16,53017,920

Supplies Expense01,140

Rent Expense15,34515,345

Insurance Expense01,380

Depreciation Expense01,200$76,425

$76,425

$79,745

$79,745

Prepare the income statement for the year ended August 31.

Reference no: EM132381906

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