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Below Is the Adjusted Trial Balance for Parsons Repair Service

Question 150

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Below is the adjusted trial balance for Parsons Repair Service.Please prepare the income statement for the year ended December 31,2012.
Parsons Repair Service
Adjusted Trial Balance
December 31,2012
 Accounts  Debit  Credit  Cash $1,600 Accounts receivable 2,400 Prepaid rent 800 Supplies 200 Building 14,000 Accumulated depreciation $2,000 Accounts payable 4,200 Salary payable 1,000 Unearned revenue 800 D. Parsons, capital 6,000 D. Parsons, drawing 1,000 Service revenue 50,000 Salary expense 21,000 Rent expense 14,000 Depreciation expense 8,500 Supplies expense 500 Total $64,000$64,000\begin{array}{|l|r|r|}\hline\text { Accounts } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 1,600 &\\\hline \text { Accounts receivable } & 2,400 \\\hline \text { Prepaid rent } & 800 \\\hline \text { Supplies } & 200 \\\hline \text { Building } & 14,000\\\hline \text { Accumulated depreciation } & & \$ 2,000 \\\hline \text { Accounts payable } & & 4,200 \\\text { Salary payable } & & 1,000 \\\hline \text { Unearned revenue } & & 800 \\\hline \text { D. Parsons, capital } & & 6,000 \\\hline \text { D. Parsons, drawing } & 1,000 \\\hline \text { Service revenue } &&50,000 \\\hline \text { Salary expense } & 21,000 \\\hline\text { Rent expense } & 14,000 \\\hline \text { Depreciation expense } & 8,500 \\\hline \text { Supplies expense } & 500 \\\hline \text { Total } & \$ 64,000& \$ 64,000\\\hline\end{array}

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