nt The completed financial statement columns of the workshee

nt The completed financial statement columns of the worksheet for Fleming Company are sho FLEMING COMPANY Worksheet For the Year Ended December 31, 2017 Income Statement Balance Sheet Account Account Titles Dr. Cr. Dr. Cr. No. 101 112 130 157 158 201 Accounts Payable 212 311 320 332 400 622 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip 8,900 10,800 2,800 24,000 4,500 9,000 2,400 12,000 7,500 Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Maintenance and Repairs Expense Depreciation Expen Insurance Expense Salaries and Wages Expense Utilities Expense 11,000 60,000 722 726 732 3,100 1,800 30,000 1,400 Totals 37,900 60,000 57,500 35,400 22,100 60,000 60,000 57,500 57,500 Net Income 22,100 olicy 2000-2018 John Wiley & Sons, Inc, All Rights Reserved. A Division of John Wiley & Sons, Inc. 5

Solution

Income Statement: Revenue Service revenue 60000 Less: Expense Maintenance and repair -1600 Depreciation expense -3100 Insurance expense -1800 Salaries and wages expense -30000 Utilities expense -1400 Total expense -37900 Net Income 22100