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.