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Varvara68 [4.7K]
3 years ago
5

On December 31, Hawkin's records show the following accounts. Equipment $ 3,000 Cash 2,400 Rent Expense 1,500 Accounts Receivabl

e 600 Services Revenue 16,000 Accounts Payable 6,000 Wages Expense 8,000 Utilities Expense 700 Use the above information to prepare a December income statement for Hawkin.
Business
1 answer:
tino4ka555 [31]3 years ago
8 0

Answer:

$5,800

Explanation:

Calculation to prepare a December income statement for Hawkin.

INCOME STATEMENT

Revenues:

Services revenue $16,000

Expenses:

Rent expense $1500

Wages expense $8000

Utilities expense $700

Total expenses $10200

Net income $5800

($16,000-$10,200)

Therefore December income statement for Hawkin is $5,800

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