sep 9 - Michael McCormick ACG 3013 E3-21 Wayne Roger Corp...

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Unformatted text preview: Michael McCormick ACG 3013 E3-21 Wayne Roger Corp Wayne Roger Corp Income Statement (cash basis) Income Statement Year ending 12-31,2006 Year ending 12-31,2006 Sales: Cash received 2006 295000 Sales 485000 Gross Income 295000 Expense: Expenses 277000 For 2006 40000 Net Income 208000 for 2007 185000 Total Expense 225000 Net Income 70000 Wayne Roger Corp Wayne Roger Corp Income Statement (cash basis) Income Statement Year ending 12-31,2007 year ending 12-31,2007 Sales: Cash received 2006 160000 Sales 445000 Cash received 2007 355000 Gross Income 515000 Expenses 255000 Net Income 190000 Expense: For 2006 67000 For 2007 160000 For 2008 45000 272000 243000 P3-3 1 31-Dec Salaries Expense 2000 Salaries Payable 2000 2 31-Dec Unearned rent revenue 74000 Rent revenue 74000 3 31-Dec Adervtising expense 4600 Prepaid advertising 4600 4 31-Dec Intrest expense (note) 5600 intrest payable 5600 P3-1...
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This note was uploaded on 07/04/2011 for the course ACG 101 taught by Professor Burnett during the Spring '09 term at Edison State College.

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sep 9 - Michael McCormick ACG 3013 E3-21 Wayne Roger Corp...

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