PROBLEM 2-2A Solution

Accounting: Tools for Business Decision Making

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Unformatted text preview: PROBLEM 2-2A DREW CORPORATION Income Statement For the Year Ended December 31, 2007 Revenues Service revenue...................................................... $82,000 Expenses Salaries expense..................................................... $37,000 Depreciation expense............................................. 3,300 Insurance expense................................................. 2,200 Utilities expense..................................................... 2,000 Repair expense....................................................... 1,800 Total expenses................................................ 46,300 Net income...................................................................... $35,700 DREW CORPORATION Retained Earnings Statement For the Year Ended December 31, 2007 Retained earnings, January 1.......................................................... ............................................................................................... $31,000 Add: Net income..............................................................................Net income....
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PROBLEM 2-2A Solution - PROBLEM 2-2A DREW CORPORATION...

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