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On December 31
On December 31. Hawkin's records show the following accounts.
Equipment $ 3,300 Cash 2,400 Rent Expense 1,800 Accounts Receivable 900 Services Revenue 16,300 Accounts Payable 6,300 Wages Expense 8,000 Utilities Expense 1,000
Use the above information to prepare a December income statement for Hawkin.
Expert Solution
| HAWKIN | ||
| Income statement | ||
| For the month ended December 31 | ||
| Revenue | ||
| Service revenue (A) | 16300 | |
| Expenses: | ||
| Rent expense | 1800 | |
| Wages expense | 8000 | |
| Utility expense | 1000 | |
| Total Expense (B) | 10800 | |
| Net Income (A-B) | 5500 | |
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