Question

In: Accounting

Income Statements

Fill in the blanks at the sample Income Statement that has been provided.

Solutions

Expert Solution

Independent
Cases
Total
Revenues
Total
Expenses
Net
Income/Loss
Total
Assets
Total
Liabilities
Shareholder's
Equity
A
$119,000
$95,200
$23,800
$245,000
$114,000
$131,000
B
$138,300
$118,300
$20,000
$188,000
$127,500
$60,500
C
$110,000
$132,000
-$22,000
$112,500
$35,000
$77,500
D
$75,500
$53,500
$22,000
$137,000
$25,000
$112,000
E
$99,000
$102,000
-$3,000
$138,500
$109,500
$29,000
Total Revenue - Total Expenses = Net Income / Loss
 
Total Assets = Total Liabilities + Shareholder's Equity

All the Income Statement balances have been filled.

Soumik Mallick Choudhury answered 3 years ago
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