Question

Bank Dr 16,062.92

Prepaid insurance Dr 500

Kitchen supplies Dr 2000

Office supplies Dr 200

Building supplies DR 183.70

Furniture Dr 4500

Accumulated depreciation furniture Cr 375

Gst paid on purchases -

Wages payable Cr 1485.71

Interest payable Cr 200

Deductions payable Cr 1,280

Bank loan payable Cr 10,000

N.R capital Cr 5000

N.R withdrawals Dr 500

Revenue Cr 27,250

Wages expense Dr 9805.71

Training expense Dr 250

Supplies expense Dr 250

Depreciation expense Dr 375

Bookkeeper expense Dr 400

Interest expense Dr 200

Advertising expense Dr 1700

Insurance expense Dr 1,000

Miscellaneous expense Dr 218.45

Rent expense Dr 4,000

Total Dr 45,590.71 Cr 45,590.71

can help me make a income statement ? please and thank you kindly

Answer 1

Answer-

INCOME STATEMENT
FOR THE YEAR ENDED
PARTICULARS		AMOUNT
		$
Total revenue earned		27250
Revenues	27250
Less-Expenses
Wages expense	9805.71
Depreciation expense	375
Training expense	250
Miscellenous expense	218.45
Bookkeeper expense	400
Supplies expense	250
Insurance expense	1000
Advertising expense	1700
Rent expesne	4000
Total expenses		17999.16
Profit before interest expense		9250.84
Less- Interest expense		200
Net Profit		9050.84