Question 41 (10 points) Account Title Debit Credit Cash Accounts receivable Offi

Question

Question 41 (10 points) Account Title Debit Credit Cash Accounts receivable Office supplies Trucks 7000 16.500 2.000 70.000 w..2 ..1 35,000 Land Accounes payable . Interest payable Long-serm notes payable K. Webb, Capital K Webb, Wichdrawals.c Trucking lees earned 75000 11000 3,000 2.000 161,000 wwwww19.000 128,000 Salaries expense Office supplies expense Repairs expense Tracks Torals 60.000 7.000 11,000 5320,000 $390.000 Using the Trial Balance for Webb Trucking Company, prepare a formal Single Step Income Statement. Date: December 31, 2013 You may use abbreviations to speed up your input. JE#4.xls

Explanation / Answer

Single step income statement :

Revenue Trucking fees earned 128000 Expense Depreciation expense-Truck (22500) Salaries expenes (60000) Office supplies expense (7000) Repairs expense-Truck (11000) Total expense (100500) Net operating income 27500

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