Chrome File Edit View History Bookmarks People Window Help x

Chrome File Edit View History Bookmarks People Window Help xChapter 1 Dashboard ezto.mheducation.com/hm.tpx C Below are the account balances for Cowboy Law Firm at the end of December. Balances 5,100 2,050 3,100 4,050 1,200 13,500 9,000 5,700 Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Required Use only the appropriate accounts to prepare an income statement. COWBOY LAW FIRM Income Statement Expenses: Total expenses 21

Solution

COWBOY LAW FIRM Income statement Service revenue 9,000.00 expenses: Salaries expenses 2,050.00 Utilities expenses 1,200.00 Total expenses 3,250.00 Net income 5,750.00