Mathematics, 06.05.2020 15:02 AshlynPlayz45

The income statement of Bjorn ASA for the month of July shows net income of €2,683 based on Service Revenue €6,728, Salaries and Wages Expense €2,305, Supplies Expense €1,250, and Utilities Expense €490. In reviewing the statement, you discover the following.

1. Insurance expired during July of €418 was omitted.
2. Supplies expense includes €339 of supplies that are still on hand at July 31.
3. Depreciation on equipment of €171 was omitted.
4. Accrued but unpaid salaries and wages at July 31 of €310 were not included.
5. Services performed but unrecorded totaled €892.

Prepare a correct income statement for July 2017

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The income statement of Bjorn ASA for the month of July shows net income of €2,683 based on Service...

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