Qu. 130 Below are the account balances for Huffman Corporation. Below are the ac

Question

Qu. 130 Below are the account balances for Huffman Corporation. Below are the account balances for Huffman Corporation at the end of December. Accounts Balances Cash 5,800 1,400 Salaries expense Retained earnings 2,700 Advertising expense 1,930 13,300 Equipment 12,400 Service revenue 9,700 Common stock 2,850 Accounts payable Use only the appropriate accounts to prepare an income statement. (Input a amounts as positi values. Omit in your response.) HUFFMAN CORPORATION Income Statement For the year ended December 31 Revenues Click to select) Expenses (Click to select (Click to select Total expenses (Click to select)

Explanation / Answer

income statement

Revenue 12400

less expenses

salary expense 1400

advertising expense 1930

total expense 3330

net income 9070

qu.129

cash debit 7000

cash in advance 7000

Qu.138

1. 2520+650+380=3550

2. 2480-180-730+990=2560

3. 70-280-600=-810

4. 40-750-850=-1560

5. 250+1540-890=900

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