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You are assigned to prepare the income statement for the year ended 31 March 2020 and the balance sheet as at 31 March 2020 based on the following information: Accounts RM Cash 31,000 Accounts Receivable 76,000 Supplies 9,500 Office Equipment 12,000 Accumulated Depreciation 3,600 Accounts Payable 24,000 Salaries Payable 16,000 Capital 71,220 Drawings 13,000 Service Revenue 95,400 Interest Income 11,500 Salaries Expense 39,700 Supplies Expense 4,200 Depreciation Expense 1,200 Rental Expense 35,000 Miscellaneous Expense 120
You are assigned to prepare the income statement for the year ended 31 March 2020 and the balance sheet as at 31 March 2020 based on the following information:
Accounts RM
Cash 31,000
Accounts Receivable 76,000
Supplies 9,500
Office Equipment 12,000
Accumulated Depreciation 3,600
Accounts Payable 24,000
Salaries Payable 16,000
Capital 71,220
Drawings 13,000
Service Revenue 95,400
Interest Income 11,500
Salaries Expense 39,700
Supplies Expense 4,200
Depreciation Expense 1,200
Rental Expense 35,000
Miscellaneous Expense 120
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