Ask Question
11 August, 04:19

The following account balances were taken from the adjusted trial balance for Laser Messenger Service, a delivery service firm, for the fiscal year ended April 30, 2019:

Depreciation Expense $11,500

Fees Earned 610,700

Insurance Expense 2,190

Miscellaneous Expense 4,600

Rent Expense 87,400

Salaries Expense 307,100

Supplies Expense 3,910

Utilities Expense 33,400

Prepare an income statement. If a net loss has been incurred, enter that amount as a negative number using a - sign.

+5
Answers (1)
  1. 11 August, 04:33
    0
    Laser Messenger Service

    Income Statement

    For the Year Ended April 30, 2019

    Revenues:

    Fees earned $610,700

    Expenses:

    Salaries Expense $307,100 Supplies Expense $3,910 Rent Expense $87,400 Utilities Expense $33,400 Depreciation Expense $11,500 Miscellaneous Expense $4,600 $447,910

    Net income $162,790
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following account balances were taken from the adjusted trial balance for Laser Messenger Service, a delivery service firm, for the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers