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preparing an income statement, a form is given in the working papers. the following...

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john18 | Honors

Posted September 23, 2013 at 1:26 PM via web

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preparing an income statement, a form is given in the working papers. 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 debit-$800.00,insurance expense debit-$200.00,miscellaneous expense debit-$315.00, supplies expense debit-$450.00, utilities expense debit-$1,495.00, total for debit column-$326,000, net income for debit column-$297,300, all totals add up to $623,300 for debit column, credit column for income statement is $6,233.00, totals for the balance sheet debit is $1043,600 and the credit balance is $7,463.00 and net income for credit is $2,973.00, all totals $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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