Solution-Prepare the income statement for tyler service

Prepare the income statement for tyler service company

Reference no: EM13929724

Tyler Service Co. experienced the following transactions for 2013, its first year of operations:

1. Provided $86,000 of services on account.
2. Collected $72,000 cash from accounts receivable.
3. Paid $39,000 of salaries expense for the year.
4. Tyler adjusted the accounts using the following information from an accounts receivable aging schedule:

826_264-B-A-C-R (1676).png

Required:

a. Record the above transactions in general journal form and post them to T-accounts.

b. Prepare the income statement for Tyler Service Co. for 2013.

c. What is the net realizable value of the accounts receivable at December 31,2013?

Reference no: EM13929724

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Prepare the income statement for tyler service company

Reference no: EM13929724

Reference no: EM13929724

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