Question

The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30, for Finnegan Co.:

Accumulated Depreciation $32,000
Fees Earned 78,000
Depreciation Expense 7,250
Rent Expense 34,000
Prepaid Insurance 6,000
Supplies 400
Supplies Expense 1,800

Requried:
Prepare an income statement.

Answer 1

Answer:

Its 4oo

Explanation:

Its option C

Answer 2

Answer:

Fees Earned: 78,000

Expenses:

Rent Expense: (7,250)

Depreciation Expense: (34,000)

Supplies Expense: (1,000)

Total Expenses: 43,050

Net Income: 34,950