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 .