Exercise 28 Part Level Submission These financial statement

Exercise 2-8 (Part Level Submission) These financial statement items are for Windsor, Inc. at year-end, July 31, 2017 Salaries and wages payable Salaries and wages expense Supplies expense 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) 4,080 59,100 17,300 20,500 4,100 67,700 10,200 3,700 16,000 31,100 11,680 7,400 4,000 5,400 35,900

Solution

Windsor , Inc.

Income Statement.

For the year ended July 32 ,2017

Revenues
Service Revenue	$67,700
Rent Revenue	10,200
Total Revenues		$77,900
Expenses
Salaries & Wages Expense	59,100
Supplies Expense	17,300
Depreciation Expense	5,400
Total Expenses		81,800
Net Loss		($3,900)