EAlgo Preparing a Statement of Earnings LO
Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred
in October of the current year:
a Peter's collected $ from customers for games played in October.
b Peter's sold curling equipment inventory for $; received $ in cash and the rest on account; the cost
sales is $
c Peter's received $ from customers on account who purchased merchandise in September.
d The curling league gave Peter's a deposit of $ for the upcoming fall season.
e Peter's paid $ for the September electricity bill and received the October bill for $ which will be paid in
November.
Peter's paid $ to employees for work in October.
g Peter's purchased and paid $ in insurance for coverage from October to December
h Peter's paid $ to plumbers for repairing a broken pipe in the washrooms.
Required:
Prepare a statement of earnings for Peter's Curling Inc. for the month of October of the current year. Use an income tax
rate of percent.
