The following revenue and expense account balances were taken from the Income Statement columns of the work sheet for Fraser Services Co. for December 31:
$$\begin{array} { l l }
\text { Depreciation Expense } & \$ 4,950 \
\text { Insurance Expense } & 2,900 \
\text { Miscellaneous Expense } & 1,200 \
\text { Rent Expense } & 24,000 \
\text { Service Revenue } & 92,500 \
\text { Supplies Expense } & 3,150 \
\text { Utilities Expense } & 5,000 \
\text { Wages Expense } & 63,750
\end{array}$$ Prepare an income statement.

Question

The following revenue and expense account balances were taken from the Income Statement columns of the work sheet for Fraser Services Co. for December 31:
 $$\begin{array} { l l } 
\text { Depreciation Expense } & \$ 4,950 \
\text { Insurance Expense } & 2,900 \
\text { Miscellaneous Expense } & 1,200 \
\text { Rent Expense } & 24,000 \
\text { Service Revenue } & 92,500 \
\text { Supplies Expense } & 3,150 \
\text { Utilities Expense } & 5,000 \
\text { Wages Expense } & 63,750
\end{array}$$ Prepare an income statement.

Quizplus · Accepted Answer

The Answer of The following revenue and expense account balances were taken from the Income Statement columns of the work sheet for Fraser Services Co. for December 31:
 $$\begin{array} { l l } 
\text { Depreciation Expense } & \$ 4,950 \
\text { Insurance Expense } & 2,900 \
\text { Miscellaneous Expense } & 1,200 \
\text { Rent Expense } & 24,000 \
\text { Service Revenue } & 92,500 \
\text { Supplies Expense } & 3,150 \
\text { Utilities Expense } & 5,000 \
\text { Wages Expense } & 63,750
\end{array}$$ Prepare an income statement.

The Following Revenue and Expense Account Balances Were Taken from the Income