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.
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?" .
E4-13 Analyze adjusted da