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Ber [7]
4 years ago
5

The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm,

for the fiscal year ended November 30, 2018:Depreciation Expense $10,650Fees Earned 724,500Insurance Expense 5,000Miscellaneous Expense 6,650Rent Expense 75,000Salaries Expense 393,100Supplies Expense 6,150Utilities Expense 41,200Required:1. Prepare an income statement.
Business
1 answer:
zepelin [54]4 years ago
6 0

Answer:

$186,750

Explanation:

Urgent Messenger Service,INCOME STATEMENT for the year ended

Fees Earned 724,500

Less Expenses:

Salaries expenses 393,100

Rent expenses 75,000

Utilities expense 41,200

Depreciation expenses 10,650

Miscellaneous expenses 6,650

Supplies expense 6,150

Insurance expense 5,000

Net income (724,500-537,750 ) 186,750

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The correct answer to this open question is the following.

Although there is no further information about the case of study, we can say that the question possible refers to the case where the name of the company is just "The Client." The name of the document is "Leading Innovation Change - The Kotter Way."  

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