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KAY MAGILL COMPANY Post-Closing Trial Balance For the Month Ended June 30, 2015
Debit
Credit
$
$
Total
$
$
Warning
Exercise 4-17
These financial statement items are for Norsted Company at year-end, July 31, 2015.
Salaries and wages payable
nbsp;2,080
Notes payable (long-term)
nbsp;1,800
Salaries and wages expense
51,700
Cash
14,200
Utilities expense
22,600
Accounts receivable
9,780
Equipment
30,400
Accumulated depreciation-equipment
6,000
Accounts payable
4,100
Dividends
3,000
Service revenue
62,000
Depreciation expense
4,000
Rent revenue
8,500
Retained Earnings (beginning of the year)
21,200
Common Stock
30,000
Warning
Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
NORSTED COMPANY Income Statement For the Year Ended July 31, 2015
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