The account balances of SMK\'s Architectural Firm as of March 31, 2013 follow. P

Question

The account balances of SMK's Architectural Firm as of March 31, 2013 follow.

Prepare an Income Statement for SMK's Architectural Firm for the month ending March, 31, 2013.

Equipment 44,800 Advertising expense 3,135 Rent expense 3,700 Accounts payable 5,800 Office supplies 2,630 Accounts receivable 18,240 Common stock 45,000 Retained earnings 28,250 Cash 37,725 Salaries expense 12,380 Notes payable 52,725 Service revenue 22,500 Utilities expense 1,125 Furniture 20,590 Investments 16,600 Interest revenue 6,650

Explanation / Answer

For this statement we take all the Operating Revenue and Operating Expenses for current period into consideration.

Income Statement of SMK's Architectural Firm for the month ending March 31, 2013

Revenue Service Revenue 22500 Interest Revenue 6650 29150 Expenses Advertising Expenses 3135 Rent Expenses 3700 Salaries Expenses 12380 Utilities Expenses 1125 20340 Net Income 8810

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.