Speech Descriptions and Mailtbabindbueduld WileyPLUS httpsed

Speech Descriptions and Mail.tbabind@bueduld WileyPLUS https://edugen.wileyplus.com/edugen/student/mainfr.uri (Multiple-step US Kimmel, Accounting, 6e Assignment Gradebook ORION Downloadable eTextbook signment Problem 2-3A (Part Level Submission) You are provided with the following information for Sheffield Corp., effective as of its April 30, 2017, year-end. 919 985 670 1,445 1,425 1,145 250 410 2,595 250 220 295 485 1,142 3,275 3,675 236 145 1,600 615 307 5,275 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory Land Mortgage payable Notes payable Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue All Rights Reserved. A Division of Jghn Wiley.& SonsIns here to search

Solution

Sheffield Corp. Income Statement For the year ending April 30,2017 Revenues Sales revenue 5,275 Expenses Cost of goods sold 1,145 Depreciation expense 250 income tax expense 250 insurance expense 295 interest expense 485 Salaries and wages expense 615 3,040 Net income 2,235