JKL Company’s Income Statement Assignment | Top Universities

A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for t company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $105,470 18,000 7,000 Unadjusted Trial Balance $105,470 13,000 17,200 Cash Accounts receivable office supplies Prepaid insurance Office equipment 2,960 85,000 9,340 85,000 $ 26,000 $ 24,000 9,100 C Accum. Depreciation-Office equip. Accounts payable Interest payable 18,000 2,500 C 15,000 Salaries payable Unearned consulting fees Long-term notes payable J. Logan, Capital J. Logan, Withdrawals Consulting fees earned 15,000 54,000 56,000 24,000 54,000 56,000 9,500 9,500 182,000 168,000 Depreciation expense-office equip. Salaries expense 2,000 82,550 67,550 1,310 3,810 6,380 14,620 Interest expense Insurance expense Rent expense Office supplies expense Advertising expense 14,620 10,200 21,010 $ 368,500 C 12,110 $368,500 $335,100 335,100 Totals

Prepare JKL Company's income statement for the year ended July 31. JKL COMPANY Income Statement For Year Ended July 31 Revenues $ Expenses Depreciation expense-Office equipment 2,000 Interest expense 3,810 Office supplies expense 10,200 Insurance expense 6,380 Rent expense 14,620 Advertising expense 21,010 Salaries expense 82,550 Total expenses 140,570 Net income Prepare JKL Company's statement of owner's equity for the year ended July 31. Note: J. Logan, Capital on July 31 of the prior year was $56,000, and the current-year withdrawals were $9,500. **** JKL COMPANY Statement of Owner's Equity For Year Ended July 31 J. Logan, Capital, July 31 prior year-end C J. Logan, Capital, July 31 current year-end S 0 Reg 2A1 Req 2B JKL COMPANY Balance Sheet July 31 0 0 $ 0 O.

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