Presented below is the adjusted trial balance for Cooper Company on December 31,
ID: 2422842 • Letter: P
Question
Presented below is the adjusted trial balance for Cooper Company on December 31, 2015.
COOPER COMPANY
Adjusted Trial Balance
December 31, 2015
Dr. Cr.
Cash 1,500
Accounts Receivable 4,300
Prepaid Rent 2,100
Supplies 400
Automobile equipment 18,500
Accumulated depreciation—
Automobile equipment $ 1,300
Accounts Payable 2,700
Unearned Revenue 3,660
Notes Payable 10,000
Common Stock 5,000
Retained Earnings 2,200
Dividends 1,200
Service Revenue 8,800
Salaries Expense 2,160
Utilities Expense 1,400
Rent Expense 500
Supplies Expense 600
Depreciation Expense—
Automobile Equipment 650
Interest Expense 350
Totals $33,660 $33,660
aUsing this information, prepare for the month ending December 31:
an income statement.
Explanation / Answer
Income Statement
Service revenue $8,800 less:Operating expense Salaries expense $2,160 Utilities expense 1,400 Rent expense 500 Supplies expense 600 Depreciation expense 650 interest expense 350 (5,660) Net operating income $3,140