The following are accounts taken from the books of Dunong Consultancy Services for the month of July, 2021. Prepare an income statement using natural form from the given data and compute its notes. Consultancy Fees Gain from the sale of equipment Interest Income Salaries expense Rent Expense Utilities Expense Depreciation Expense-Equipment Depreciation Expense-Furniture & Fixture Bad Debts Expense Miscellaneous expense Loss on Sale of Equipment Interest Expense - Loan Supplies Expense Dividend Income 200,000 12,000 6,000 25,000 20,000 10,000 3,000 3,500 1,500 7,000 3,000 2,000 1,000 2,500

The following are accounts taken from the books of Dunong Consultancy Services for the month of July, 2021. Prepare an income statement using natural form from the given data and compute its notes. Consultancy Fees Gain from the sale of equipment Interest Income Salaries expense Rent Expense Utilities Expense Depreciation Expense-Equipment Depreciation Expense-Furniture & Fixture Bad Debts Expense Miscellaneous expense Loss on Sale of Equipment Interest Expense - Loan Supplies Expense Dividend Income 200,000 12,000 6,000 25,000 20,000 10,000 3,000 3,500 1,500 7,000 3,000 2,000 1,000 2,500

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 15EA: The following select account data is taken from the records of Reese Industries for 2019. A. Use the...

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