Chapter 4 - Excel assignment
NOTE: Assignment must be completed by Due Date. Automatic
deduction of 50% of points if received after due date. No points
awarded if completed after 4 days from Due Date.
Excel Exercise 4-12
Excel Exercise 4-13
Excel Exercise 4-16
Excel Problem 4-1A
E4-12 Prepare a correct income statement
The income statement of Garska Co. for the month of July shows net
income of $2,000
based on Service Revenue $5,500; Salaries and Wages $2,100;
Supplies Expense $900;
and Utilities Expense $500. In reviewing the statement, you discover
the following:
1.
Insurance expired during July of $350 was omitted.
2.
Supplies expense includes $200 of supplies that are still on
hand at July 31.
3.
Depreciation on equipment of $150 was omitted.
4.
Accrued but unpaid wages at July 31 of $360 were not
included,
5.
Services performed but unrecorded totaled $700.
Instructions
Prepare a correct income statement for July 2014.