income statement prepare two income statements one using the information in practice 691709
Income Statement
Prepare two income statements, one using the information in Practice 2–8 and the other using the information in Practice 2–9.
Practice 2–8
Trial Balance
Use the following account balance information to construct a trial balance:
|
Cost of Goods Sold |
$ 9,000 |
|
Accounts Payable |
1,100 |
|
Paid In Capital |
2,000 |
|
Cash |
400 |
|
Sales |
10,000 |
|
Dividends |
700 |
|
Retained Earnings (beginning) |
1,000 |
|
Inventory |
4,000 |
Practice 2–9
Trial Balance
Use the following account balance information to construct a trial balance:
|
Salary Expense |
$18,000 |
|
Unearned Service Revenue |
4,700 |
|
Paid In Capital |
2,000 |
|
Cash |
800 |
|
Service Revenue |
20,000 |
|
Rent Expense |
6,400 |
|
Retained Earnings (beginning) |
1,500 |
|
Prepaid Rent Expense |
3,000 |