Business, 25.11.2021 05:50 zahrast14

These financial statement items are for Rugen Company at year-end, July 31, 2020. Salaries and wages payable $2,980 Notes payable (long-term) $3,000
Salaries and wages expense 45,700 Cash 5,200
Utilities expense 21,100 Accounts receivable 9,780
Equipment 38,000 Accumulated depreciation 6,000
Accounts payable 4,100 Ownerâ€™s Drawings 4,000
Service revenue 57,200 Depreciation expense 4,000
Rent revenue 6,500 Ownerâ€™s capital (beginning of the year) 48,000
Prepare an income statement for the year. RUGEN COMPANY Income Statement For the Year Ended July 31, 2020 Revenues Service Revenue $ 57,200 Rent Revenue 6,500 Total Revenues $ 63,700 63.700 Expenses Salaries and Wages Expense $ $ 45.700 Utilities Expense 21,100 Depreciation Expense 4,000 Total Expenses 70.800 Net Income /(Loss) $ 7.100 Prepare a owner's equity statement for the year. (List items that increase retained earnings first.) RUGEN COMPANY Owner's Equity Statement For the Year Ended July 31, 2020 19 48.000 Less Net Income /(Loss) > < $

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These financial statement items are for Rugen Company at year-end, July 31, 2020. Salaries and wag...

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