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preparing an income statement, the following information is obtained from the work...

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john18 | Honors

Posted September 29, 2013 at 7:09 PM via web

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preparing an income statement, the following information is obtained from the work sheet of len's laundry for the month ended august 31 of the current year. sales-income statement credit-$6,233.00, advertising expense-income statement debit-$800.00, insurance expense-income statement debit-$200.00, miscellaneous expense- income statement debit-$315.00, supplies expense- income statement debit-$450.00, utilities expense- income statement debit-$1,495.00, total income statement debits-$3,260.00, income statement credit-$6,233.00, balance sheet debit-$10,436.00, balance sheet credit-$7,463.00, net income, income statement debit-$297,300, balance sheet credit-$297,300, total for all income statement debits-$6,233.00, total for all income statement credits-$6,233.00, total income for all balance sheet debits-$10,436.00, total for all balance sheet credits-$10,436.00, prepare an income statement for the month ended august 31 of the current year. calculate and record the component percentages for total expenses and net income. round percentage calculations to the nearest 0.1%.

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