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  3. exercise 2. the income statement of ivanka co. for

Exercise 2. The income statement of Ivanka Co. for the month of August shows net...

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Accounting

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Exercise 2. The income statement of Ivanka Co. for the month of August shows net income of $2,000 based on Service Revenue $5,500; Salaries and Wages Expense $2,100; Supplies Expense $900; and Utilities Expense $500. In reviewing the statement, you discover the following: 1. Insurance expired during August of $350 was omitted. 2. Supplies expense includes $200 of supplies that are still on hand at August 31. 3. Depreciation on equipment of $150 was omitted. 4. Accrued but unpaid wages at August 31 of $360 were not included. 5. Services performed but unrecorded totaled $700. Instructions Prepare a correct income statement for August 2019

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