Kimmel Accounting 6e Help I System Announcements ES Exercise

Kimmel, Accounting, 6e Help I System Announcements ES Exercise 2-8 (Part Level Submission) These financal statement items are for Tamarisk, Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense $3,480 58,800 17,400 19,900 4,100 67,400 10,300 3,600 16,000 30,500 11,580 8,000 4,000 6,000 35,300 a Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year)

Solution

RUGEN COMPANY Income Statement For the Year Ended July 31, 2017 Revenues Service revenue 67400 Rent revenue 10300 Total revenues 77700 Expenses Salaries and wages expense . 58800 Supplies expense . 17400 Depreciation expense . 6000 Total expense . 82200 Net loss . -4500