Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. keeps saying my answer is incomplete which makes m

Keeps saying my answer is incomplete which makes my net income incorrect. Credit...

80.2K

Verified Solution

Question

Accounting

imageimage

Keeps saying my answer is incomplete which makes my net income incorrect.

Credit Debit $ 1,390 3,600 3,900 4,600 20,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 5,800 7,020 1,800 4,500 920 4,000 1,640 460 56,430 460 24,800 2,900 5,820 3,000 7,600 4,500 $82,570 $82,570 SKY BLUE CORPORATION Income Statement For the Year Ended December 31 Revenues Sales Revenue $ 56,430 460 Rent Revenue Total Revenues 56,890 24,800 2,900 Expenses Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense 5,820 3,000 7,600 4,500 48,620 Total Expenses Net Income

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students