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Prepare an income statement

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Reference no: EM133035857

Question - The accountant for Flagger Company prepared the following list of account balances from the company's records for the year ended June 30:

Fees Earned $165,000

Cash $30,000

Accounts Receivable 14,000

Advertising Expenses 44,000

Equipment 42,000

Share Capital 36,000

Accounts Payable 12,000

Interest Income 3,000

Salaries & Wages Expense 40,000

Rent Expense 51,000

Income Taxes Payable 5,000

Prepaid Rent 2,000

Notes Payable 20,000

Income Taxes Expense 18,000

When asked to prepare an income statement, the title information of the company's Income Statement would include:

a. As at June 30.

b. For the Year Ended June 30.

c. For the Year Ended December 31

d. As at 1 July and 30 June

Reference no: EM133035857

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